Scholar Rock Holding Corporation $SRRK Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 617,107 shares of the company’s stock after selling 5,302 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of Scholar Rock worth $19,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SRRK. GF Fund Management CO. LTD. boosted its stake in shares of Scholar Rock by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock worth $77,000 after buying an additional 430 shares during the last quarter. CWM LLC boosted its position in Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company’s stock worth $32,000 after purchasing an additional 602 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Scholar Rock by 10.2% during the 1st quarter. Arizona State Retirement System now owns 18,767 shares of the company’s stock worth $603,000 after purchasing an additional 1,734 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 purchasing an additional 2,051 shares during the period. Finally, Federated Hermes Inc. purchased a new position in shares of Scholar Rock during the 1st quarter valued at approximately $71,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SRRK has been the topic of a number of recent analyst reports. Cantor Fitzgerald started coverage on shares of Scholar Rock in a report on Thursday, July 17th. They set an “overweight” rating on the stock. Jefferies Financial Group started coverage on shares of Scholar Rock in a research note on Thursday. They set a “buy” rating and a $50.00 target price on the stock. Wedbush restated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, June 18th. Raymond James Financial set a $53.00 price target on Scholar Rock and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, Lifesci Capital upgraded Scholar Rock to a “strong-buy” rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $45.75.

Insider Buying and Selling at Scholar Rock

In other news, insider Akshay Vaishnaw sold 6,750 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $18,313,612.60. This trade represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mo Qatanani sold 24,066 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $34.44, for a total value of $828,833.04. Following the sale, the insider owned 115,495 shares of the company’s stock, valued at $3,977,647.80. The trade was a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,654 shares of company stock valued at $3,101,811. 13.30% of the stock is owned by insiders.

Scholar Rock Stock Up 0.6%

Shares of NASDAQ SRRK opened at $34.59 on Friday. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -11.89 and a beta of 0.48. The company’s 50-day simple moving average is $35.65 and its 200-day simple moving average is $33.88. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period in the previous year, the business posted ($0.60) EPS. Equities analysts predict that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

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.