Scholar Rock Holding Corporation (NASDAQ:SRRK) Stake Lessened by Informed Momentum Co LLC

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 trimmed its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 33.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,038 shares of the company's stock after selling 45,823 shares during the period. Informed Momentum Co LLC owned approximately 0.10% of Scholar Rock worth $2,959,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SRRK. Nuveen LLC acquired a new stake in shares of Scholar Rock in the first quarter valued at $12,775,000. Aigen Investment Management LP acquired a new stake in shares of Scholar Rock in the first quarter valued at $229,000. Entropy Technologies LP acquired a new stake in shares of Scholar Rock in the first quarter valued at $212,000. Swiss National Bank raised its stake in shares of Scholar Rock by 10.1% in the first quarter. Swiss National Bank now owns 127,000 shares of the company's stock valued at $4,083,000 after acquiring an additional 11,600 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Scholar Rock by 2.1% in the first quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company's stock valued at $155,773,000 after acquiring an additional 101,723 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael Gilman sold 3,375 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 value of $100,305.00. Following the sale, the director owned 55,216 shares in the company, valued at approximately $1,641,019.52. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider owned 616,205 shares in the company, valued at approximately $18,313,612.60. This trade represents a 1.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,654 shares of company stock worth $3,101,811. Company insiders own 13.30% of the company's stock.

Scholar Rock Stock Down 2.7%

Scholar Rock stock traded down $0.88 during trading on Friday, reaching $31.41. 1,775,181 shares of the company's stock were exchanged, compared to its average volume of 1,578,658. The company's 50-day moving average is $35.73 and its two-hundred day moving average is $34.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.33 and a current ratio of 6.33. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -10.79 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.32). During the same period in the previous year, the business posted ($0.60) EPS. On average, analysts predict that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

SRRK has been the topic of a number of analyst reports. Raymond James Financial set a $53.00 price target on Scholar Rock and gave the company 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 shares of Scholar Rock in a research report on Thursday, July 17th. They issued an "overweight" rating for the company. BMO Capital Markets cut their price objective on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Finally, Wedbush restated an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a research report on Wednesday, June 18th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $45.14.

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.