Voya Investment Management LLC Cuts Position in Scholar Rock Holding Corporation $SRRK

Voya Investment Management LLC lowered its position in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 15.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,182 shares of the company’s stock after selling 24,428 shares during the quarter. Voya Investment Management LLC owned approximately 0.14% of Scholar Rock worth $4,314,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SRRK. Vanguard Group Inc. lifted its position in shares of Scholar Rock by 2.1% during the 1st 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 during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Scholar Rock by 26.5% in the 1st 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 acquiring an additional 423,131 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Scholar Rock by 6.9% during the 1st quarter. Wellington Management Group LLP now owns 1,844,997 shares of the company’s stock worth $59,317,000 after acquiring an additional 119,375 shares in the last quarter. Vestal Point Capital LP purchased a new stake in Scholar Rock during the first quarter worth approximately $41,795,000. Finally, RA Capital Management L.P. boosted its holdings in Scholar Rock by 6,351.3% in the first quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company’s stock valued at $36,537,000 after purchasing an additional 1,118,837 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SRRK. Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Leerink Partners began coverage on shares of Scholar Rock in a research report on Monday, September 15th. They issued an “outperform” rating and a $51.00 target price on the stock. Lifesci Capital raised shares of Scholar Rock to a “strong-buy” rating in a research report on Tuesday, June 3rd. Cantor Fitzgerald began coverage on Scholar Rock in a report on Thursday, July 17th. They set an “overweight” rating on the stock. Finally, BMO Capital Markets cut their target price on Scholar Rock from $57.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Scholar Rock presently has an average rating of “Buy” and an average price target of $46.20.

Insider Buying and Selling at Scholar Rock

In other news, insider Mo Qatanani sold 3,178 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $33.52, for a total value of $106,526.56. Following the sale, the insider directly owned 112,317 shares in the company, valued at $3,764,865.84. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katie Peng sold 1,006 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $32.53, for a total value of $32,725.18. Following the completion of the sale, the director directly owned 33,914 shares in the company, valued at approximately $1,103,222.42. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,838 shares of company stock valued at $2,438,562 over the last quarter. Corporate insiders own 13.30% of the company’s stock.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $30.84 on Friday. The business has a 50 day moving average price of $34.69 and a 200 day moving average price of $33.12. The company has a market capitalization of $2.96 billion, a P/E ratio of -10.60 and a beta of 0.36. Scholar Rock Holding Corporation has a 1-year low of $6.76 and a 1-year high of $46.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33.

Scholar Rock (NASDAQ:SRRK) last posted its 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 quarter in the prior year, the business earned ($0.60) earnings per share. Sell-side analysts expect that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal 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.