Scholar Rock Holding Corporation $SRRK Position Cut by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 9.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 412,411 shares of the company’s stock after selling 44,460 shares during the period. Fisher Asset Management LLC owned 0.43% of Scholar Rock worth $14,608,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its stake in shares of Scholar Rock by 86.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company’s stock worth $28,207,000 after buying an additional 406,074 shares in the last quarter. Northern Trust Corp lifted its stake in Scholar Rock by 2.5% during the first quarter. Northern Trust Corp now owns 765,280 shares of the company’s stock valued at $24,604,000 after purchasing an additional 18,753 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. raised its position in shares of Scholar Rock by 145.3% during the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 769,442 shares of the company’s stock worth $27,254,000 after purchasing an additional 455,753 shares during the period. Intech Investment Management LLC raised its position in shares of Scholar Rock by 60.9% during the first quarter. Intech Investment Management LLC now owns 56,784 shares of the company’s stock worth $1,826,000 after purchasing an additional 21,483 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Scholar Rock in the 1st quarter valued at $458,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $43.51 on Thursday. The firm has a market capitalization of $4.44 billion, a PE ratio of -13.81 and a beta of 0.61. The company has a quick ratio of 6.30, a current ratio of 6.30 and a debt-to-equity ratio of 0.41. Scholar Rock Holding Corporation has a 12-month low of $22.71 and a 12-month high of $46.98. The firm has a 50-day moving average price of $34.75 and a 200 day moving average price of $34.28.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). During the same period in the prior year, the business earned ($0.66) earnings per share. Research analysts anticipate that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SRRK shares. JPMorgan Chase & Co. lifted their price objective on shares of Scholar Rock from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Jefferies Financial Group assumed coverage on shares of Scholar Rock in a report on Thursday, August 21st. They set a “buy” rating and a $50.00 price target for the company. Leerink Partners started coverage on shares of Scholar Rock in a research note on Monday, September 15th. They set an “outperform” rating and a $51.00 target price for the company. HC Wainwright cut their price target on Scholar Rock from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, September 23rd. Finally, Truist Financial cut their target price on Scholar Rock from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Scholar Rock has a consensus rating of “Buy” and a consensus target price of $48.33.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the firm’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 transaction of $32,725.18. Following the sale, the director directly owned 33,914 shares in the company, valued at approximately $1,103,222.42. This trade represents a 2.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Srinivas Akkaraju acquired 387,414 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was bought at an average cost of $37.27 per share, for a total transaction of $14,438,919.78. Following the completion of the transaction, the director directly owned 387,414 shares in the company, valued at $14,438,919.78. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 7,537 shares of company stock valued at $242,088. 13.30% of the stock is currently owned by company 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.