Woodline Partners LP Sells 229,154 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Woodline Partners LP has reduced its stake in Scholar Rock Holding Corporation by 21%, now holding 860,307 shares valued at approximately $27.66 million.
• Analysts have varying ratings on Scholar Rock, with a consensus rating of Buy and a target price of $45.75, down from previous estimates of $57.00.
• The company reported a quarterly earnings miss with an EPS of ($0.98), falling short of the consensus estimate of ($0.66).

Woodline Partners LP lessened its position in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 21.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 860,307 shares of the company's stock after selling 229,154 shares during the period. Woodline Partners LP owned approximately 0.91% of Scholar Rock worth $27,659,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SRRK. CWM LLC lifted its holdings 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 purchasing an additional 602 shares in the last quarter. Federated Hermes Inc. bought a new stake in Scholar Rock during the first quarter worth $71,000. GF Fund Management CO. LTD. lifted its holdings in Scholar Rock by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after acquiring an additional 430 shares during the period. AlphaQuest LLC lifted its holdings in Scholar Rock by 490.7% during the first quarter. AlphaQuest LLC now owns 5,417 shares of the company's stock worth $174,000 after acquiring an additional 4,500 shares during the period. Finally, Tema Etfs LLC bought a new stake in Scholar Rock during the fourth quarter worth $209,000. Institutional investors own 91.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on SRRK. BMO Capital Markets dropped their price target on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Wedbush restated an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Wednesday, June 18th. Leerink Partners began coverage on Scholar Rock in a research note on Monday. They issued an "outperform" rating and a $51.00 target price on the stock. Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Finally, Raymond James Financial set a $53.00 target price on Scholar Rock and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $46.33.

Scholar Rock Price Performance

Scholar Rock stock traded up $1.90 during midday trading on Monday, hitting $33.57. 742,772 shares of the company's stock were exchanged, compared to its average volume of 1,293,809. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98. The stock has a 50-day moving average price of $35.11 and a two-hundred day moving average price of $33.24. 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 company has a market cap of $3.23 billion, a P/E ratio of -11.57 and a beta of 0.36.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period last year, the firm posted ($0.60) earnings per share. On average, equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Transactions at Scholar Rock

In other news, insider Mo Qatanani sold 24,066 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey S. Flier sold 20,316 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $32.24, for a total value of $654,987.84. Following the completion of the sale, the director directly owned 24,070 shares of the company's stock, valued at approximately $776,016.80. This trade represents a 45.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,654 shares of company stock valued at $2,299,310 over the last quarter. Company 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.