Scholar Rock Holding Corporation (NASDAQ:SRRK) Stock Position Lessened by BIT Capital GmbH

Key Points

• BIT Capital GmbH reduced its stake in Scholar Rock Holding Corporation by 34.6%, now holding 42,694 shares valued at approximately $1.37 million.
• Scholar Rock's latest earnings report showed a loss of ($0.67) EPS, underperforming the analysts' predictions of ($0.63) EPS.
• A majority of 91.08% of Scholar Rock's stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.

BIT Capital GmbH cut its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 34.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,694 shares of the company's stock after selling 22,621 shares during the period. BIT Capital GmbH's holdings in Scholar Rock were worth $1,373,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. FMR LLC grew its position in shares of Scholar Rock by 33.7% during the fourth quarter. FMR LLC now owns 13,635,261 shares of the company's stock worth $589,316,000 after acquiring an additional 3,439,215 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Scholar Rock by 7.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company's stock valued at $401,231,000 after buying an additional 629,315 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after acquiring an additional 708,817 shares during the period. Marshall Wace LLP lifted its holdings in Scholar Rock by 1,283.7% in the fourth quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock valued at $127,301,000 after acquiring an additional 2,732,546 shares during the period. Finally, Bellevue Group AG lifted its holdings in Scholar Rock by 16.2% in the fourth quarter. Bellevue Group AG now owns 2,510,690 shares of the company's stock valued at $108,512,000 after acquiring an additional 349,487 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Scholar Rock news, Director Joshua Reed sold 5,400 shares of the company'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 value of $160,488.00. Following the transaction, the director directly owned 15,732 shares of the company's stock, valued at $467,555.04. This represents a 25.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Akshay Vaishnaw sold 6,750 shares of the company'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 $200,610.00. Following the sale, the insider directly owned 616,205 shares in the company, valued at approximately $18,313,612.60. This represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,654 shares of company stock worth $3,101,811 over the last 90 days. 13.30% of the stock is currently owned by corporate insiders.

Scholar Rock Stock Down 2.8%

NASDAQ SRRK traded down $1.03 on Tuesday, reaching $35.96. The company had a trading volume of 507,188 shares, compared to its average volume of 1,170,134. The firm has a market capitalization of $3.41 billion, a PE ratio of -14.21 and a beta of 0.48. Scholar Rock Holding Corporation has a 1 year low of $6.76 and a 1 year high of $46.98. The firm has a 50-day moving average of $35.41 and a 200-day moving average of $34.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.25 and a quick ratio of 10.25.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same period in the previous year, the firm posted ($0.59) earnings per share. On average, equities research analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Raymond James Financial set a $53.00 target price on Scholar Rock and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Wedbush reaffirmed an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Cantor Fitzgerald assumed coverage on Scholar Rock in a research note on Thursday, July 17th. They set an "overweight" rating for the company. Finally, Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $44.14.

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.