Scholar Rock Holding Corporation $SRRK Shares Acquired by Swiss National Bank

Swiss National Bank increased its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,000 shares of the company’s stock after purchasing an additional 11,600 shares during the period. Swiss National Bank owned 0.13% of Scholar Rock worth $4,083,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Scholar Rock by 2.1% during the first quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company’s stock worth $155,773,000 after purchasing an additional 101,723 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Scholar Rock during the first quarter worth $422,000. Federated Hermes Inc. acquired a new position in shares of Scholar Rock during the first quarter worth $71,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Scholar Rock by 12.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,557 shares of the company’s stock worth $597,000 after purchasing an additional 2,051 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Scholar Rock during the first quarter worth $513,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BMO Capital Markets lowered their target price 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 shares of Scholar Rock and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Lifesci Capital upgraded shares of Scholar Rock to a “strong-buy” rating in a research note on Tuesday, June 3rd. Cantor Fitzgerald initiated coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They issued an “overweight” rating for the company. Finally, Wedbush restated an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a research note on Wednesday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $45.14.

Insiders Place Their Bets

In other news, Director Michael Gilman sold 3,375 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $100,305.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Akshay Vaishnaw sold 6,750 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $200,610.00. Following the completion of the sale, the insider directly owned 616,205 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 93,654 shares of company stock valued at $3,101,811. 13.30% of the stock is owned by insiders.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK opened at $34.40 on Thursday. The company has a 50-day simple moving average of $35.62 and a 200-day simple moving average of $33.92. Scholar Rock Holding Corporation has a one year low of $6.76 and a one year high of $46.98. 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 stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -11.82 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK) last announced its 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 last year, the firm earned ($0.60) EPS. On average, analysts predict that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

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.