KLP Kapitalforvaltning AS Has $499,000 Stock Position in Scholar Rock Holding Corporation $SRRK

KLP Kapitalforvaltning AS grew its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 13.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,100 shares of the company’s stock after purchasing an additional 1,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Scholar Rock were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SRRK. Vestal Point Capital LP bought a new stake in shares of Scholar Rock during the first quarter worth about $41,795,000. RA Capital Management L.P. grew its position in Scholar Rock by 6,351.3% in the 1st 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 in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Scholar Rock by 26.5% during 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 period. Lord Abbett & CO. LLC grew its position in shares of Scholar Rock by 86.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company’s stock valued at $28,207,000 after acquiring an additional 406,074 shares during the period. Finally, Nuveen LLC bought a new position in shares of Scholar Rock during the 1st quarter valued at approximately $12,775,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Trading Down 5.1%

Shares of NASDAQ SRRK opened at $27.94 on Friday. Scholar Rock Holding Corporation has a 1 year low of $22.71 and a 1 year high of $46.98. The stock has a market cap of $2.69 billion, a P/E ratio of -9.60 and a beta of 0.42. The firm has a 50-day moving average of $33.74 and a 200 day moving average of $33.33. 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.32). During the same quarter in the prior year, the firm earned ($0.60) EPS. As a group, sell-side analysts expect that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They set an “overweight” rating on the stock. Leerink Partners initiated coverage on shares of Scholar Rock in a report on Monday, September 15th. They issued an “outperform” rating and a $51.00 price target on the stock. HC Wainwright decreased their price target on shares of Scholar Rock from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, September 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a report on Wednesday, October 8th. Finally, Leerink Partnrs raised shares of Scholar Rock to a “strong-buy” rating in a report on Monday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $48.60.

Insider Buying and Selling at Scholar Rock

In other news, insider Mo Qatanani sold 3,353 shares of Scholar Rock stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $30.67, for a total value of $102,836.51. Following the completion of the sale, the insider directly owned 108,964 shares in the company, valued at $3,341,925.88. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Srinivas Akkaraju purchased 113,025 shares of Scholar Rock stock in a transaction dated Monday, October 6th. The stock was bought at an average price of $38.65 per share, with a total value of $4,368,416.25. Following the completion of the purchase, the director directly owned 500,439 shares of the company’s stock, valued at approximately $19,341,967.35. This trade represents a 29.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 7,537 shares of company stock worth $242,088. 13.30% of the stock is owned by corporate insiders.

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.