Informed Momentum Co LLC Trims Holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK)

Key Points

• Informed Momentum Co LLC reduced its holdings in Scholar Rock Holding Corporation by 33.2% in the first quarter, now owning approximately $2.96 million worth of stock.
• Marshall Wace LLP increased its stake in Scholar Rock by an astonishing 1,283.7%, now holding 2.94 million shares valued at over $127 million.
• A recent earnings report showed Scholar Rock missed estimates, reporting ($0.98) earnings per share, significantly worse than the forecasted ($0.66).

Informed Momentum Co LLC reduced its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 33.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,038 shares of the company's stock after selling 45,823 shares during the period. Informed Momentum Co LLC owned 0.10% of Scholar Rock worth $2,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SRRK. Marshall Wace LLP increased its position in 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 last quarter. Fairmount Funds Management LLC acquired a new stake in Scholar Rock during the fourth quarter worth about $84,839,000. Adage Capital Partners GP L.L.C. acquired a new stake in Scholar Rock during the fourth quarter worth about $68,930,000. Wellington Management Group LLP boosted its stake in Scholar Rock by 763.8% during 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. Finally, Janus Henderson Group PLC boosted its stake in Scholar Rock by 5,951.3% during 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. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wedbush reaffirmed an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research note on Wednesday, June 18th. Cantor Fitzgerald assumed coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They set an "overweight" rating for the company. Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Raymond James Financial set a $53.00 target price on shares of Scholar Rock and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, BMO Capital Markets lowered their target price on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. 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 stock has an average rating of "Buy" and a consensus target price of $45.14.

Scholar Rock Price Performance

Shares of NASDAQ SRRK traded down $0.22 during trading on Wednesday, hitting $31.98. 1,637,238 shares of the company were exchanged, compared to its average volume of 1,636,508. Scholar Rock Holding Corporation has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The firm's fifty day moving average price is $35.83 and its 200 day moving average price is $34.25. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -10.99 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released 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 period last year, the firm posted ($0.60) EPS. On average, sell-side analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

Insider Transactions at Scholar Rock

In other news, insider Akshay Vaishnaw sold 6,750 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were 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 of the company's stock, valued at $18,313,612.60. This represents a 1.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $828,833.04. Following the sale, the insider directly owned 115,495 shares of the company's stock, valued at approximately $3,977,647.80. This trade represents a 17.24% 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 in the last ninety days. Company insiders own 13.30% of the company's stock.

Scholar Rock Company 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.