Scholar Rock Holding Corporation $SRRK Stake Lifted by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,845,205 shares of the company’s stock after buying an additional 101,723 shares during the quarter. Vanguard Group Inc. owned about 5.11% of Scholar Rock worth $155,773,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in Scholar Rock during the 1st quarter worth $422,000. Federated Hermes Inc. bought a new position in Scholar Rock during the 1st quarter worth $71,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Scholar Rock by 12.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,557 shares of the company’s stock worth $597,000 after buying an additional 2,051 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Scholar Rock during the 1st quarter worth $513,000. Finally, Victory Capital Management Inc. grew its stake in Scholar Rock by 508.6% during the 1st quarter. Victory Capital Management Inc. now owns 52,628 shares of the company’s stock worth $1,692,000 after buying an additional 43,981 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Scholar Rock news, insider Akshay Vaishnaw sold 6,750 shares of the company’s stock in a transaction on 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. This represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the insider directly owned 115,495 shares in the company, valued at $3,977,647.80. This represents a 17.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,654 shares of company stock valued at $3,101,811 in the last three months. Insiders own 13.30% of the company’s stock.

Scholar Rock Stock Performance

Shares of NASDAQ SRRK opened at $34.40 on Thursday. The stock has a fifty day moving average price of $35.62 and a two-hundred day moving average price of $33.92. 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 firm has a market cap of $3.31 billion, a P/E ratio of -11.82 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) last posted its quarterly 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 company earned ($0.60) earnings per share. Research analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SRRK shares. Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Cantor Fitzgerald assumed coverage on Scholar Rock in a research note on Thursday, July 17th. They set an “overweight” rating on the stock. BMO Capital Markets cut 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. Lifesci Capital upgraded shares of Scholar Rock to a “strong-buy” rating in a research note on Tuesday, June 3rd. Finally, Wedbush restated an “outperform” rating and set 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 given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $45.14.

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.