Vanguard Group Inc. Increases Stake in Scholar Rock Holding Corporation $SRRK

Key Points

• Vanguard Group Inc. has increased its stake in Scholar Rock Holding Corporation by 2.1%, owning approximately 5.11% of the company after acquiring an additional 101,723 shares during the first quarter.
• Scholar Rock reported a quarterly loss of ($0.98) earnings per share (EPS), missing the consensus estimate by ($0.32) and forecasting a -2.42 EPS for the current fiscal year.
• A number of research analysts have provided optimistic outlooks for Scholar Rock, with multiple firms issuing price targets ranging from $45.00 to $53.00 and several maintaining a "strong-buy" or "buy" rating.

Vanguard Group Inc. grew its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 2.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,845,205 shares of the company's stock after purchasing an additional 101,723 shares during the quarter. Vanguard Group Inc. owned approximately 5.11% of Scholar Rock worth $155,773,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SRRK. XTX Topco Ltd bought a new stake in Scholar Rock during the 1st quarter valued at about $422,000. Federated Hermes Inc. purchased a new position in shares of Scholar Rock during the first quarter worth approximately $71,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Scholar Rock by 12.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,557 shares of the company's stock valued at $597,000 after acquiring an additional 2,051 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Scholar Rock in the first quarter valued at approximately $513,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Scholar Rock by 508.6% in the first quarter. Victory Capital Management Inc. now owns 52,628 shares of the company's stock valued at $1,692,000 after purchasing an additional 43,981 shares during the period. Hedge funds and other institutional investors own 91.08% of the company's stock.

Insider Activity

In related news, Director Jeffrey S. Flier sold 20,316 shares of the 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 completion of the sale, the director owned 24,070 shares of the company's stock, valued at $776,016.80. This represents a 45.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kristina Burow sold 5,400 shares of Scholar Rock stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total transaction of $160,488.00. Following the completion of the transaction, the director directly owned 21,071 shares in the company, valued at $626,230.12. This represents a 20.40% decrease in their ownership of the stock. 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 over the last 90 days. 13.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

SRRK has been the topic of several research reports. Jefferies Financial Group began coverage on Scholar Rock in a report on Thursday, August 21st. They set a "buy" rating and a $50.00 price objective on the stock. 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. Wedbush restated an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Wednesday, June 18th. Cantor Fitzgerald began coverage on shares of Scholar Rock in a report on Thursday, July 17th. They set an "overweight" rating on the stock. Finally, Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $45.75.

Scholar Rock Stock Up 1.4%

Shares of NASDAQ SRRK traded up $0.45 during mid-day trading on Tuesday, reaching $33.78. 1,407,855 shares of the company were exchanged, compared to its average volume of 1,950,398. Scholar Rock Holding Corporation has a 1 year low of $6.76 and a 1 year high of $46.98. The firm has a 50-day moving average of $35.79 and a 200 day moving average of $33.70. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -11.61 and a beta of 0.48. 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 (NASDAQ:SRRK - Get Free Report) last announced its earnings results 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 last year, the company posted ($0.60) EPS. On average, research analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current 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.