Scholar Rock Holding Corporation $SRRK Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its holdings in Scholar Rock Holding Corporation to 1,844,997 shares, representing a growth of 6.9% and a total value of approximately $59.32 million.
• Research analysts have given Scholar Rock an average rating of "Buy" with a consensus target price of $45.75, highlighting optimism about the company's performance potential.
• Insider sales have occurred recently, with Mo Qatanani selling 24,066 shares and other insiders selling a total of 93,654 shares, indicating some movement of ownership among the company's leadership.

Wellington Management Group LLP grew its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 6.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,844,997 shares of the company's stock after buying an additional 119,375 shares during the quarter. Wellington Management Group LLP owned 1.94% of Scholar Rock worth $59,317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its position in shares of 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 buying an additional 602 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Scholar Rock in the fourth quarter valued at approximately $85,000. Federated Hermes Inc. purchased a new stake in shares of Scholar Rock in the first quarter valued at approximately $71,000. Tema Etfs LLC purchased a new stake in shares of Scholar Rock in the fourth quarter valued at approximately $209,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Scholar Rock in the fourth quarter valued at approximately $212,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Trading Down 0.8%

NASDAQ:SRRK traded down $0.29 during trading hours on Thursday, hitting $34.18. The company had a trading volume of 217,385 shares, compared to its average volume of 1,270,712. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $35.75 and a 200 day moving average of $33.71. The company has a market cap of $3.29 billion, a P/E ratio of -11.71 and a beta of 0.48. Scholar Rock Holding Corporation has a 1 year low of $6.76 and a 1 year 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 the consensus estimate of ($0.66) by ($0.32). During the same quarter in the prior year, the firm posted ($0.60) earnings per share. Sell-side analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets cut their price objective on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Cantor Fitzgerald began coverage on Scholar Rock in a research report on Thursday, July 17th. They issued an "overweight" rating for the company. Wedbush reiterated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research report on Wednesday, June 18th. Raymond James Financial set a $53.00 price target on Scholar Rock and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group began coverage on Scholar Rock in a research report on Thursday, August 21st. They set a "buy" rating and a $50.00 price target 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. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $45.75.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Jeffrey S. Flier sold 11,136 shares of the company's 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 $963,281.40. This represents a 31.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mo Qatanani sold 24,066 shares of the company's 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. The trade was a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,654 shares of company stock valued at $2,299,310. 13.30% of the stock is owned by company insiders.

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.