BIT Capital GmbH Lowers Position in Scholar Rock Holding Corporation (NASDAQ:SRRK)

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 trimmed its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 34.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

SRRK has been the topic of a number of recent research reports. 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. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Cantor Fitzgerald began coverage on Scholar Rock in a report on Thursday, July 17th. They set an "overweight" rating on the stock. Wedbush reaffirmed an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, June 18th. Finally, BMO Capital Markets lowered their target price on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $45.14.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Joshua Reed sold 5,400 shares of the 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 completion of the sale, the director owned 15,732 shares in the company, valued at approximately $467,555.04. This trade represents a 25.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mo Qatanani sold 24,066 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $34.44, for a total value of $828,833.04. Following the completion of the transaction, the insider directly owned 115,495 shares of the company's stock, valued at $3,977,647.80. This represents a 17.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,654 shares of company stock worth $3,101,811 in the last 90 days. 13.30% of the stock is owned by company insiders.

Scholar Rock Stock Performance

Shares of NASDAQ SRRK traded down $3.38 during midday trading on Thursday, reaching $31.24. The company's stock had a trading volume of 1,614,328 shares, compared to its average volume of 1,210,916. Scholar Rock Holding Corporation has a 12-month low of $6.76 and a 12-month high of $46.98. The firm has a 50 day moving average price of $35.66 and a 200-day moving average price of $34.70. The stock has a market capitalization of $2.97 billion, a P/E ratio of -12.33 and a beta of 0.48. 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 posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same quarter last year, the firm posted ($0.60) earnings per share. As a group, equities analysts predict that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

About Scholar Rock

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.