Vestal Point Capital LP Makes New Investment in Scholar Rock Holding Corporation $SRRK

Key Points

• Vestal Point Capital LP acquired 1,300,000 shares of Scholar Rock Holding Corporation, valued at approximately $41.8 million, making it their 10th largest investment.
• Scholar Rock's stock has a fifty-two week range between $6.76 and $46.98, currently trading at $32.65, with a market cap of $3.14 billion.
• P/E ratio of Scholar Rock is -11.22, and it recently reported an EPS of ($0.98), missing analyst expectations by ($0.32).

Vestal Point Capital LP acquired a new stake in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,300,000 shares of the company's stock, valued at approximately $41,795,000. Scholar Rock makes up about 3.0% of Vestal Point Capital LP's portfolio, making the stock its 10th largest position. Vestal Point Capital LP owned 1.37% of Scholar Rock as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. CWM LLC boosted its stake in 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 acquiring an additional 602 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Scholar Rock during the fourth quarter worth about $85,000. Federated Hermes Inc. acquired a new stake in shares of Scholar Rock during the first quarter worth about $71,000. Tema Etfs LLC acquired a new stake in shares of Scholar Rock during the fourth quarter worth about $209,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Scholar Rock during the fourth quarter worth about $212,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Scholar Rock Stock Performance

NASDAQ:SRRK traded down $1.03 during mid-day trading on Friday, reaching $31.41. The stock had a trading volume of 2,113,953 shares, compared to its average volume of 1,712,805. Scholar Rock Holding Corporation has a twelve month low of $6.76 and a twelve month high of $46.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.33 and a current ratio of 6.33. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -10.79 and a beta of 0.36. The business has a 50 day simple moving average of $35.46 and a 200 day simple moving average of $33.49.

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 analysts' consensus estimates of ($0.66) by ($0.32). During the same quarter in the prior year, the firm earned ($0.60) EPS. On average, analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

Insider Transactions at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 24,066 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total value of $828,833.04. Following the completion of the transaction, the insider directly owned 115,495 shares of the company's stock, valued at approximately $3,977,647.80. This trade represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey S. Flier sold 20,316 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,654 shares of company stock valued at $2,299,310. 13.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.