Swiss National Bank Boosts Holdings in Scholar Rock Holding Corporation $SRRK

Key Points

• Swiss National Bank increased its stake in Scholar Rock Holding Corporation by 10.1%, owning 127,000 shares valued at approximately $4.08 million at the end of the last quarter.
• Analysts have set a new price target for Scholar Rock, with BMO Capital Markets lowering it to $45.00 while Raymond James set it at $53.00, reflecting mixed sentiments among investment analysts.
• Insider trading was noted as directors sold a combined total of 10,125 shares, reflecting a 5.76% and 1.08% decrease in their respective ownership after recent stock transactions.

Swiss National Bank raised its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 10.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,000 shares of the company's stock after acquiring an additional 11,600 shares during the quarter. Swiss National Bank owned approximately 0.13% of Scholar Rock worth $4,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SRRK. Fairmount Funds Management LLC purchased a new position in Scholar Rock during the 4th quarter valued at about $84,839,000. Adage Capital Partners GP L.L.C. purchased a new position in Scholar Rock during the 4th quarter valued at about $68,930,000. Wellington Management Group LLP grew its holdings in shares of 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 in the last quarter. Janus Henderson Group PLC grew its holdings in shares of 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 in the last quarter. Finally, Boxer Capital Management LLC purchased a new stake in shares of Scholar Rock during the fourth quarter worth about $32,415,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BMO Capital Markets lowered their price target on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Raymond James Financial set a $53.00 price target on shares of Scholar Rock and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Wedbush reiterated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a report on Wednesday, June 18th. Cantor Fitzgerald assumed coverage on shares of Scholar Rock in a report on Thursday, July 17th. They set an "overweight" rating for the company. Finally, Lifesci Capital upgraded shares of Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $45.75.

Scholar Rock Trading Up 1.4%

SRRK stock traded up $0.45 during midday trading on Tuesday, reaching $33.78. 1,407,855 shares of the company's stock traded hands, compared to its average volume of 1,950,398. The company has a market capitalization of $3.25 billion, a P/E ratio of -11.61 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. Scholar Rock Holding Corporation has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The business has a 50-day moving average price of $35.79 and a two-hundred day moving average price of $33.70.

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

Insider Activity

In other Scholar Rock news, Director Jeffrey S. Flier sold 20,316 shares of Scholar Rock stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $32.24, for a total transaction of $654,987.84. Following the transaction, the director directly owned 24,070 shares of the company's stock, valued at $776,016.80. The trade was a 45.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kristina Burow sold 5,400 shares of Scholar Rock stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $160,488.00. Following the transaction, the director directly owned 21,071 shares in the company, valued at approximately $626,230.12. This trade represents a 20.40% 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 valued at $3,101,811 over the last quarter. 13.30% of the stock is owned by insiders.

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.