Victory Capital Management Inc. Raises Holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Scholar Rock by 42.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company's stock worth $5,845,000 after purchasing an additional 40,436 shares during the period. GAMMA Investing LLC lifted its position in Scholar Rock by 3,824.9% during the first quarter. GAMMA Investing LLC now owns 30,928 shares of the company's stock worth $962,000 after purchasing an additional 30,140 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock worth $205,013,000 after acquiring an additional 708,817 shares during the last quarter. Blackstone Inc. bought a new position in shares of Scholar Rock in the fourth quarter worth about $910,000. Finally, Raymond James Financial Inc. bought a new position in shares of Scholar Rock in the fourth quarter worth about $2,625,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Trading Down 1.9%

Shares of NASDAQ:SRRK traded down $0.69 during trading on Friday, reaching $36.36. 1,417,374 shares of the company 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 52-week low of $6.76 and a 52-week 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 business's fifty 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 earnings results 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 prior year, the company posted ($0.59) earnings per share. As a group, analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Kristina Burow 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 21,071 shares in the company, valued at approximately $626,230.12. This represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 of the company's stock, valued at approximately $467,555.04. This trade represents a 25.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,654 shares of company stock valued at $3,101,811 over the last 90 days. Company insiders own 13.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on SRRK. Raymond James Financial set a $53.00 target price on shares of Scholar Rock and gave the stock a "strong-buy" rating in a report on Wednesday. Cantor Fitzgerald started coverage on shares of Scholar Rock in a research report on Thursday, July 17th. They set an "overweight" rating for the company. Wedbush reiterated an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a report on Wednesday, June 18th. Finally, Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $44.14.

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.