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 decreased its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 6.6% during the 1st quarter, according to its most recent 13F filing with the Securities & 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 about 0.36% of Scholar Rock worth $10,899,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SRRK. Sei Investments Co. increased its holdings in shares of Scholar Rock by 4.7% during the 4th quarter. Sei Investments Co. now owns 87,314 shares of the company's stock worth $3,774,000 after acquiring an additional 3,940 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Scholar Rock in the fourth quarter valued at about $536,000. Vanguard Group Inc. raised its position in Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after purchasing an additional 708,817 shares during the last quarter. Corebridge Financial Inc. raised its position in Scholar Rock by 5.2% in the fourth quarter. Corebridge Financial Inc. now owns 38,539 shares of the company's stock valued at $1,666,000 after purchasing an additional 1,915 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Scholar Rock during the fourth quarter worth about $1,946,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Wall Street Analyst Weigh In

SRRK has been the subject of a number of analyst reports. Cantor Fitzgerald initiated coverage on Scholar Rock in a research report on Thursday, July 17th. They set an "overweight" rating for the company. Wedbush restated an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a research report on Wednesday, June 18th. Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Finally, Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $44.14.

Scholar Rock Stock Up 0.4%

Scholar Rock stock traded up $0.15 during mid-day trading on Monday, reaching $36.51. The stock had a trading volume of 363,499 shares, compared to its average volume of 1,172,763. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.25 and a current ratio of 10.25. Scholar Rock Holding Corporation has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The stock's 50-day simple moving average is $35.27 and its 200-day simple moving average is $34.73. The firm has a market capitalization of $3.47 billion, a PE ratio of -14.42 and a beta of 0.48.

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 analysts' consensus estimates of ($0.63) by ($0.04). During the same quarter in the previous year, the business earned ($0.59) earnings per share. On average, sell-side analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Gilman sold 3,375 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 $100,305.00. Following the completion of the sale, the director directly owned 55,216 shares of the company's stock, valued at approximately $1,641,019.52. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Akshay Vaishnaw sold 6,750 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the completion of the transaction, the insider directly owned 616,205 shares in the company, valued at approximately $18,313,612.60. This represents a 1.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,654 shares of company stock worth $3,101,811 in the last three months. 13.30% of the stock is owned by corporate insiders.

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.