TD Asset Management Inc Sells 23,794 Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK)

Key Points

• TD Asset Management Inc reduced its stake in Scholar Rock Holding Corporation by 6.6%, selling 23,794 shares and owning 339,016 shares worth approximately $10.9 million after the transaction.
• Insider Mo Qatanani sold 24,066 shares of Scholar Rock at an average price of $34.44, indicating a 17.24% decrease in their position.
• Scholar Rock's stock has been rated mostly positively by analysts, with a consensus rating of "Buy" and a target price of $44.14, while the current stock price opened at $37.83.

TD Asset Management Inc lowered its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,016 shares of the company's stock after selling 23,794 shares during the quarter. TD Asset Management Inc owned approximately 0.36% of Scholar Rock worth $10,899,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC increased its stake in shares of Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after buying an additional 602 shares during the period. GF Fund Management CO. LTD. increased its stake in shares of Scholar Rock by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after buying an additional 430 shares during the period. Tema Etfs LLC acquired a new position in shares of Scholar Rock in the fourth quarter valued at approximately $209,000. Mackenzie Financial Corp acquired a new position in shares of Scholar Rock in the fourth quarter valued at approximately $212,000. Finally, Farallon Capital Management LLC acquired a new position in shares of Scholar Rock in the fourth quarter valued at approximately $303,000. Institutional investors own 91.08% of the company's stock.

Insider Activity at Scholar Rock

In related news, Director Jeffrey S. Flier sold 11,136 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $40.02, for a total value of $445,662.72. Following the transaction, the director directly owned 24,070 shares in the company, valued at $963,281.40. This trade represents a 31.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joshua Reed sold 5,400 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $160,488.00. Following the completion of the transaction, the director owned 15,732 shares in the company, valued at approximately $467,555.04. This represents a 25.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,654 shares of company stock worth $3,101,811. Corporate insiders own 13.30% of the company's stock.

Scholar Rock Trading Down 1.9%

NASDAQ:SRRK traded down $0.69 on Friday, reaching $36.36. 1,417,374 shares of the stock traded hands, compared to its average volume of 1,151,113. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -14.37 and a beta of 0.48. Scholar Rock Holding Corporation has a 1-year low of $6.76 and a 1-year high of $46.98. The company has a current ratio of 10.25, a quick ratio of 10.25 and a debt-to-equity ratio of 0.16. The company's 50 day moving average is $35.27 and its 200-day moving average is $34.86.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period in the prior year, the business earned ($0.59) EPS. Equities research analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Cantor Fitzgerald assumed coverage on Scholar Rock in a research note on Thursday, July 17th. They issued an "overweight" rating for the company. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. 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. Finally, Raymond James Financial set a $53.00 target price on shares of Scholar Rock and gave the company a "strong-buy" rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Scholar Rock currently has a consensus rating of "Buy" and an average price target of $44.14.

About Scholar Rock

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.