Voya Investment Management LLC Cuts Stock Holdings in Scholar Rock Holding Corporation $SRRK

Key Points

• Voya Investment Management LLC has reduced its stake in Scholar Rock Holding Corporation by 15.4%, now owning 134,182 shares valued at approximately $4.31 million.
• Multiple institutional investors, including Vanguard Group Inc. and RA Capital Management L.P., have recently adjusted their positions, contributing to hedge funds controlling about 91.08% of the stock.
• Analysts maintain a generally positive outlook on Scholar Rock, with an average rating of "Buy" and a price target of $46.20, despite recent earnings missing expectations.

Voya Investment Management LLC cut its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 15.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 134,182 shares of the company's stock after selling 24,428 shares during the period. Voya Investment Management LLC owned about 0.14% of Scholar Rock worth $4,314,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. CWM LLC increased its holdings in Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after acquiring an additional 602 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Scholar Rock in the fourth quarter worth approximately $85,000. Federated Hermes Inc. bought a new position in shares of Scholar Rock in the first quarter worth approximately $71,000. Strs Ohio bought a new position in shares of Scholar Rock in the first quarter worth approximately $77,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Scholar Rock during the 4th quarter valued at $212,000. 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 company's stock in a transaction that occurred 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 sale, the director owned 24,070 shares in the company, valued at $963,281.40. This represents a 31.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mo Qatanani sold 3,178 shares of Scholar Rock stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $33.52, for a total transaction of $106,526.56. Following the sale, the insider owned 112,317 shares of the company's stock, valued at approximately $3,764,865.84. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,386 shares of company stock worth $1,413,748 over the last quarter. Insiders own 13.30% of the company's stock.

Scholar Rock Stock Performance

SRRK stock traded up $0.11 during midday trading on Tuesday, reaching $32.69. The stock had a trading volume of 5,110,489 shares, compared to its average volume of 1,350,459. The stock has a market cap of $3.14 billion, a PE ratio of -11.49 and a beta of 0.36. 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 fifty day simple moving average of $34.57 and a two-hundred day simple moving average of $33.05. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98.

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 period in the prior year, the firm posted ($0.60) earnings per share. As a group, equities research analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SRRK shares. Wedbush restated an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Barclays started coverage on shares of Scholar Rock in a report on Wednesday, September 17th. They issued an "overweight" rating and a $45.00 price target on the stock. Lifesci Capital upgraded shares of Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Jefferies Financial Group assumed coverage on Scholar Rock in a research report on Thursday, August 21st. They set a "buy" rating and a $50.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on Scholar Rock in a research report on Thursday, July 17th. They set an "overweight" rating for the company. Three research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. Based on data from MarketBeat, Scholar Rock presently has an average rating of "Buy" and an average target price of $46.20.

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.