Birchview Capital LP Has $514,000 Stock Position in Scholar Rock Holding Corporation $SRRK

Key Points

• Birchview Capital LP increased its stake in Scholar Rock Holding Corporation by 100% during the first quarter, owning a total of 16,000 shares valued at $514,000.
• Scholar Rock reported a quarterly loss of ($0.98) EPS, which was worse than analysts' estimates, missing by $0.32.
• Investors are showing increased interest, with institutional ownership now at 91.08%, indicating strong backing from large investors and hedge funds.

Birchview Capital LP raised its position in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 100.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 16,000 shares of the company's stock after buying an additional 8,000 shares during the period. Birchview Capital LP's holdings in Scholar Rock were worth $514,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. CWM LLC lifted its stake in shares of Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after purchasing an additional 602 shares during the period. Federated Hermes Inc. acquired a new position in shares of Scholar Rock in the 1st quarter valued at $71,000. GF Fund Management CO. LTD. raised its stake in Scholar Rock by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after buying an additional 430 shares during the period. AlphaQuest LLC raised its stake in Scholar Rock by 490.7% during the 1st quarter. AlphaQuest LLC now owns 5,417 shares of the company's stock worth $174,000 after buying an additional 4,500 shares during the period. Finally, Tema Etfs LLC acquired a new stake in Scholar Rock during the 4th quarter worth $209,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Jeffrey S. Flier sold 11,136 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $40.02, for a total transaction of $445,662.72. Following the completion of the sale, the director directly owned 24,070 shares in the company, valued at approximately $963,281.40. This trade represents a 31.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mo Qatanani sold 24,066 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $34.44, for a total value of $828,833.04. Following the sale, the insider owned 115,495 shares of the company's stock, valued at approximately $3,977,647.80. The trade was a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,654 shares of company stock worth $2,299,310. 13.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. BMO Capital Markets dropped 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. Wedbush reissued an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Cantor Fitzgerald started coverage on Scholar Rock in a report on Thursday, July 17th. They issued an "overweight" rating for the company. Finally, Raymond James Financial set a $53.00 price target on Scholar Rock and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $45.75.

Scholar Rock Price Performance

Shares of NASDAQ SRRK traded down $1.03 during midday trading on Friday, reaching $31.41. 2,113,953 shares of the company were exchanged, compared to its average volume of 1,712,805. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock Holding Corporation has a one year low of $6.76 and a one year high of $46.98. The stock has a market cap of $3.02 billion, a P/E ratio of -10.79 and a beta of 0.36. The stock's 50-day moving average price is $35.46 and its 200-day moving average price is $33.49.

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

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.