Woodline Partners LP Has $27.66 Million Stock Holdings in 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 trimmed its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 21.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 860,307 shares of the company's stock after selling 229,154 shares during the quarter. Woodline Partners LP owned approximately 0.91% of Scholar Rock worth $27,659,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SRRK. Vanguard Group Inc. grew its holdings in Scholar Rock by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company's stock worth $155,773,000 after acquiring an additional 101,723 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Scholar Rock by 26.5% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,018,000 shares of the company's stock worth $64,879,000 after acquiring an additional 423,131 shares during the last quarter. Wellington Management Group LLP grew its holdings in Scholar Rock by 6.9% during the 1st quarter. Wellington Management Group LLP now owns 1,844,997 shares of the company's stock worth $59,317,000 after acquiring an additional 119,375 shares during the last quarter. Vestal Point Capital LP bought a new stake in Scholar Rock during the 1st quarter worth approximately $41,795,000. Finally, RA Capital Management L.P. grew its holdings in Scholar Rock by 6,351.3% during the 1st quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company's stock worth $36,537,000 after acquiring an additional 1,118,837 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Stock Down 0.5%

NASDAQ SRRK traded down $0.17 on Friday, hitting $31.67. 1,264,428 shares of the company were exchanged, compared to its average volume of 1,780,786. The company has a market cap of $3.04 billion, a PE ratio of -10.88 and a beta of 0.36. Scholar Rock Holding Corporation has a 12 month low of $6.76 and a 12 month high of $46.98. The stock has a fifty day moving average of $35.11 and a 200-day moving average of $33.28. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21.

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 period last year, the company earned ($0.60) EPS. As a group, analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In related news, Director Jeffrey S. Flier sold 20,316 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $32.24, for a total transaction of $654,987.84. Following the transaction, the director directly owned 24,070 shares of the company's stock, valued at $776,016.80. This represents a 45.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $34.44, for a total transaction of $828,833.04. Following the transaction, the insider owned 115,495 shares in the company, valued at approximately $3,977,647.80. The trade was a 17.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,654 shares of company stock worth $2,299,310. 13.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Scholar Rock in a report on Thursday, July 17th. They set an "overweight" rating on the stock. Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Jefferies Financial Group started coverage on shares of Scholar Rock in a research note on Thursday, August 21st. They issued a "buy" rating and a $50.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a research note on Wednesday, June 18th. Finally, BMO Capital Markets reduced their price objective on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $45.75.

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.