Scholar Rock Holding Corporation (NASDAQ:SRRK) Holdings Boosted by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 508.6%, owning a total of 52,628 shares worth approximately $1.7 million.
• Insider sales were reported, with Director Joshua Reed selling 5,400 shares and insider Akshay Vaishnaw selling 6,750 shares, representing decreases in their ownership positions.
• Analysts have a consensus rating of "Buy" for Scholar Rock, with a price target of $42.67, following recent positive reports by multiple research firms.

Victory Capital Management Inc. grew its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 508.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,628 shares of the company's stock after purchasing an additional 43,981 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Scholar Rock worth $1,692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SRRK. FMR LLC lifted its stake in Scholar Rock by 33.7% in the 4th quarter. FMR LLC now owns 13,635,261 shares of the company's stock valued at $589,316,000 after buying an additional 3,439,215 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Scholar Rock by 7.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company's stock valued at $401,231,000 after buying an additional 629,315 shares in the last quarter. Vanguard Group Inc. lifted its stake in Scholar Rock by 17.6% in the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after buying an additional 708,817 shares in the last quarter. Marshall Wace LLP lifted its stake in Scholar Rock by 1,283.7% in the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock valued at $127,301,000 after buying an additional 2,732,546 shares in the last quarter. Finally, Bellevue Group AG lifted its stake in Scholar Rock by 16.2% in the 4th quarter. Bellevue Group AG now owns 2,510,690 shares of the company's stock valued at $108,512,000 after buying an additional 349,487 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company's stock.

Scholar Rock Trading Down 1.9%

Shares of SRRK traded down $0.69 during trading hours on Friday, hitting $36.36. The stock had a trading volume of 1,417,374 shares, compared to its average volume of 1,151,113. Scholar Rock Holding Corporation has a 12-month low of $6.76 and a 12-month high of $46.98. The firm has a market cap of $3.45 billion, a P/E ratio of -14.37 and a beta of 0.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.25 and a current ratio of 10.25. The company's fifty day simple moving average is $35.27 and its 200 day simple moving average is $34.79.

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

Insider Transactions 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 completion of the sale, the director directly owned 24,070 shares in the company, valued at approximately $963,281.40. This represents a 31.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mo Qatanani sold 24,066 shares of the stock in a transaction on 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 sale, the insider owned 115,495 shares of the company's stock, valued at approximately $3,977,647.80. This represents a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,654 shares of company stock worth $3,101,811 in the last quarter. 13.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SRRK. Wedbush reissued an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Raymond James Financial set a $53.00 price target on Scholar Rock and gave the stock a "strong-buy" rating in a research note on Wednesday. Finally, Cantor Fitzgerald initiated coverage on Scholar Rock in a research report on Thursday, July 17th. They issued an "overweight" rating on the stock. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $44.14.

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.