Intech Investment Management LLC Buys 21,483 Shares of Scholar Rock Holding Corporation $SRRK

Intech Investment Management LLC lifted its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 60.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,784 shares of the company’s stock after buying an additional 21,483 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Scholar Rock worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Scholar Rock by 2.1% in the first quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company’s stock valued at $155,773,000 after buying an additional 101,723 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Scholar Rock by 26.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,018,000 shares of the company’s stock valued at $64,879,000 after buying an additional 423,131 shares during the period. Wellington Management Group LLP lifted its stake in Scholar Rock by 6.9% during the first quarter. Wellington Management Group LLP now owns 1,844,997 shares of the company’s stock worth $59,317,000 after purchasing an additional 119,375 shares during the last quarter. Vestal Point Capital LP bought a new stake in Scholar Rock during the first quarter worth $41,795,000. Finally, RA Capital Management L.P. lifted its stake in Scholar Rock by 6,351.3% during the first quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company’s stock worth $36,537,000 after purchasing an additional 1,118,837 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Stock Down 4.0%

Shares of NASDAQ:SRRK opened at $32.34 on Wednesday. The firm has a market cap of $3.11 billion, a P/E ratio of -11.11 and a beta of 0.36. 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 12-month low of $6.76 and a 12-month high of $46.98. The business has a fifty day simple moving average of $35.04 and a 200 day simple moving average of $33.19.

Scholar Rock (NASDAQ:SRRK) last announced 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) earnings per share. Analysts predict that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Lifesci Capital upgraded Scholar Rock to a “strong-buy” rating in a research note on Tuesday, June 3rd. Cantor Fitzgerald assumed coverage on Scholar Rock in a research note on Thursday, July 17th. They set an “overweight” rating for the company. Jefferies Financial Group assumed coverage on Scholar Rock in a research note on Thursday, August 21st. They set a “buy” rating and a $50.00 target price for the company. Leerink Partners assumed coverage on Scholar Rock in a research note on Monday. They set an “outperform” rating and a $51.00 target price for the company. Finally, Leerink Partnrs upgraded Scholar Rock to a “strong-buy” rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $46.33.

Insider Buying and Selling at Scholar Rock

In related news, Director Jeffrey S. Flier sold 20,316 shares of the firm’s 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 completion of the transaction, the director directly owned 24,070 shares of the company’s stock, valued at $776,016.80. This trade represents a 45.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mo Qatanani sold 24,066 shares of the stock in a transaction dated 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 approximately $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 66,654 shares of company stock valued at $2,299,310. 13.30% of the stock is owned by corporate insiders.

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.