Scholar Rock Holding Corporation $SRRK Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 2.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 765,280 shares of the company’s stock after acquiring an additional 18,753 shares during the quarter. Northern Trust Corp owned approximately 0.81% of Scholar Rock worth $24,604,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWM LLC grew its holdings in shares of Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company’s stock worth $32,000 after acquiring an additional 602 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Scholar Rock in the 4th quarter worth $85,000. Federated Hermes Inc. acquired a new position in shares of Scholar Rock in the 1st quarter worth $71,000. Tema Etfs LLC acquired a new position in shares of Scholar Rock in the 4th quarter worth $209,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Scholar Rock in the fourth quarter worth $212,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Trading Down 1.9%

Scholar Rock stock opened at $32.65 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -11.22 and a beta of 0.36. Scholar Rock Holding Corporation has a one year low of $6.76 and a one year high of $46.98. The company’s fifty day moving average price is $35.66 and its two-hundred day moving average price is $33.59.

Scholar Rock (NASDAQ:SRRK) 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 in the previous year, the business earned ($0.60) EPS. On average, analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 24,066 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total transaction of $828,833.04. Following the transaction, the insider directly owned 115,495 shares of the company’s stock, valued at $3,977,647.80. This represents a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey S. Flier sold 20,316 shares of the stock in a transaction on Monday, June 23rd. The stock was 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 in the company, valued at $776,016.80. The trade was a 45.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,654 shares of company stock worth $2,299,310 over the last three months. Company insiders own 13.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SRRK shares. Lifesci Capital raised Scholar Rock to a “strong-buy” rating in a research report on Tuesday, June 3rd. Cantor Fitzgerald initiated coverage on Scholar Rock in a report on Thursday, July 17th. They set an “overweight” rating for the company. Jefferies Financial Group initiated coverage on Scholar Rock in a report on Thursday, August 21st. They set a “buy” rating and a $50.00 price objective for the company. Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets cut their price objective on Scholar Rock from $57.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $45.75.

About Scholar Rock

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.