Russell Investments Group Ltd. Purchases 182,859 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Scholar Rock, acquiring an additional 182,859 shares, raising its ownership by 250,491.8% to approximately 182,932 shares valued at about $5.88 million.
• Scholar Rock has received positive ratings from multiple analysts, with Cantor Fitzgerald initiating coverage with an "overweight" rating and a target price of $53.00, while BMO Capital Markets lowered its price objective to $45.00 but maintained an "outperform" rating.
• The company's stock performance shows significant fluctuation, with a 12-month low of $6.76 and a high of $46.98, and it currently trades around $34.40 with a market capitalization of $3.31 billion.

Russell Investments Group Ltd. raised its position in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 250,491.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 182,932 shares of the company's stock after acquiring an additional 182,859 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.19% of Scholar Rock worth $5,881,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SRRK. Fairmount Funds Management LLC bought a new position in shares of Scholar Rock in the fourth quarter worth about $84,839,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Scholar Rock in the fourth quarter worth about $68,930,000. Wellington Management Group LLP raised its stake in shares of Scholar Rock by 763.8% in the fourth quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company's stock worth $74,581,000 after buying an additional 1,525,845 shares during the period. Janus Henderson Group PLC raised its stake in shares of Scholar Rock by 5,951.3% in the fourth quarter. Janus Henderson Group PLC now owns 849,178 shares of the company's stock worth $36,731,000 after buying an additional 835,145 shares during the period. Finally, Boxer Capital Management LLC bought a new position in shares of Scholar Rock in the fourth quarter worth about $32,415,000. Institutional investors own 91.08% of the company's stock.

Wall Street Analysts Forecast Growth

SRRK has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on Scholar Rock in a research note on Thursday, July 17th. They issued an "overweight" rating on the stock. Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. BMO Capital Markets decreased their price objective on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Finally, Wedbush reiterated an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, Scholar Rock currently has an average rating of "Buy" and a consensus target price of $45.14.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $34.40 on Thursday. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock Holding Corporation has a 12-month low of $6.76 and a 12-month high of $46.98. The stock has a 50-day moving average price of $35.62 and a 200 day moving average price of $33.92. The stock has a market capitalization of $3.31 billion, a P/E ratio of -11.82 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period in the previous year, the firm posted ($0.60) earnings per share. Equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Akshay Vaishnaw sold 6,750 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total transaction of $200,610.00. Following the completion of the transaction, the insider owned 616,205 shares in the company, valued at $18,313,612.60. This trade represents a 1.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kristina Burow sold 5,400 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $160,488.00. Following the transaction, the director owned 21,071 shares of the company's stock, valued at $626,230.12. This represents a 20.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,654 shares of company stock worth $3,101,811 over the last three months. 13.30% of the stock is owned by company insiders.

Scholar Rock Profile

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.

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