Wellington Management Group LLP Grows Holdings in Scholar Rock Holding Corporation $SRRK

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 lifted its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 6.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,844,997 shares of the company's stock after purchasing 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SRRK. Wells Fargo & Company MN grew its position in Scholar Rock by 58.7% during the 4th quarter. Wells Fargo & Company MN now owns 38,590 shares of the company's stock worth $1,668,000 after acquiring an additional 14,274 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Scholar Rock in the 4th quarter worth approximately $2,625,000. Guggenheim Capital LLC bought a new stake in shares of Scholar Rock in the 4th quarter valued at $322,000. CANADA LIFE ASSURANCE Co increased its position in shares of Scholar Rock by 347.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 16,888 shares of the company's stock worth $729,000 after buying an additional 13,111 shares during the period. Finally, MetLife Investment Management LLC increased its position in shares of Scholar Rock by 16.8% during the fourth quarter. MetLife Investment Management LLC now owns 46,667 shares of the company's stock worth $2,017,000 after buying an additional 6,701 shares during the period. Institutional investors own 91.08% of the company's stock.

Scholar Rock Stock Down 6.1%

SRRK stock traded down $2.16 during trading on Monday, reaching $33.33. The stock had a trading volume of 1,933,822 shares, compared to its average volume of 1,913,860. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of -11.45 and a beta of 0.48. Scholar Rock Holding Corporation has a one year low of $6.76 and a one year high of $46.98. The company's 50 day moving average is $35.73 and its two-hundred day moving average is $33.70.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) 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) earnings per share. Equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Analysts Set New Price Targets

SRRK has been the topic of several recent analyst reports. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. BMO Capital Markets decreased their price target 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 Scholar Rock and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Cantor Fitzgerald assumed coverage on Scholar Rock in a report on Thursday, July 17th. They set an "overweight" rating for the company. Finally, Jefferies Financial Group assumed coverage on Scholar Rock in a research report on Thursday. They set a "buy" rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Scholar Rock currently has a consensus rating of "Buy" and an average target price of $45.75.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Michael Gilman sold 3,375 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 transaction of $100,305.00. Following the completion of the transaction, the director directly owned 55,216 shares of the company's stock, valued at approximately $1,641,019.52. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Akshay Vaishnaw sold 6,750 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the transaction, the insider owned 616,205 shares of the company's stock, valued at approximately $18,313,612.60. The trade was a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,654 shares of company stock worth $3,101,811 over the last 90 days. Corporate insiders own 13.30% of the company's stock.

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.