ADAR1 Capital Management LLC Purchases 137,574 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• ADAR1 Capital Management LLC significantly increased its stake in Scholar Rock Holding Corporation by 705.3% in Q1, now holding 157,079 shares valued at approximately $5 million.
• Scholar Rock reported an earnings miss for the last quarter, with an EPS of ($0.98), falling short of analysts' expectations of ($0.66).
• The stock currently has a consensus rating of "Buy" from analysts, with a price target of $45.75, despite a recent downgrade by BMO Capital Markets.

ADAR1 Capital Management LLC boosted its position in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 705.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 157,079 shares of the company's stock after purchasing an additional 137,574 shares during the period. ADAR1 Capital Management LLC owned about 0.17% of Scholar Rock worth $5,050,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Lord Abbett & CO. LLC boosted its stake in shares of Scholar Rock by 86.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company's stock worth $28,207,000 after acquiring an additional 406,074 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Scholar Rock by 42.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company's stock valued at $5,845,000 after buying an additional 40,436 shares in the last quarter. Northern Trust Corp boosted its position in shares of Scholar Rock by 2.5% during the 1st quarter. Northern Trust Corp now owns 765,280 shares of the company's stock worth $24,604,000 after acquiring an additional 18,753 shares in the last quarter. GAMMA Investing LLC increased its stake in Scholar Rock by 3,824.9% in the first quarter. GAMMA Investing LLC now owns 30,928 shares of the company's stock valued at $962,000 after acquiring an additional 30,140 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Scholar Rock during the first quarter worth $12,775,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on SRRK. Raymond James Financial set a $53.00 target price on Scholar Rock and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. Cantor Fitzgerald assumed coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They set an "overweight" rating on the stock. Wedbush reaffirmed an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a research note on Wednesday, June 18th. BMO Capital Markets cut their target price on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Finally, Jefferies Financial Group assumed coverage on shares of Scholar Rock in a research report on Thursday, August 21st. They issued a "buy" rating and a $50.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $45.75.

Scholar Rock Trading Down 3.2%

NASDAQ SRRK traded down $1.03 during trading hours on Friday, hitting $31.41. 2,113,953 shares of the company's stock were exchanged, compared to its average volume of 1,712,805. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock Holding Corporation has a 1-year low of $6.76 and a 1-year high of $46.98. The stock has a 50-day simple moving average of $35.46 and a 200 day simple moving average of $33.46. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -10.79 and a beta of 0.36.

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

Insiders Place Their Bets

In other Scholar Rock news, Director Jeffrey S. Flier sold 20,316 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $32.24, for a total value of $654,987.84. Following the transaction, the director directly owned 24,070 shares of the company's stock, valued at approximately $776,016.80. This trade represents a 45.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mo Qatanani sold 24,066 shares of the business's stock in a transaction dated 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. The trade was a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,654 shares of company stock worth $2,299,310. 13.30% of the stock is owned by company 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.