Aberdeen Group plc Has $2.94 Million Stock Holdings in Scholar Rock Holding Corporation $SRRK

Aberdeen Group plc cut its position in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 35.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 91,482 shares of the company’s stock after selling 50,705 shares during the quarter. Aberdeen Group plc’s holdings in Scholar Rock were worth $2,941,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SRRK. CWM LLC grew its stake in shares of Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company’s stock valued at $32,000 after buying an additional 602 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Scholar Rock in the 1st quarter valued at about $71,000. GF Fund Management CO. LTD. grew its stake in shares of Scholar Rock by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock valued at $77,000 after buying an additional 430 shares during the period. Tema Etfs LLC acquired a new position in Scholar Rock during the 4th quarter valued at about $209,000. Finally, Mackenzie Financial Corp acquired a new position in Scholar Rock during the 4th quarter valued at about $212,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Scholar Rock

In related news, insider Akshay Vaishnaw sold 6,750 shares of Scholar Rock stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $200,610.00. Following the sale, the insider owned 616,205 shares of the company’s stock, valued at approximately $18,313,612.60. The trade was a 1.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $828,833.04. Following the transaction, the insider directly owned 115,495 shares of the company’s stock, valued at approximately $3,977,647.80. This trade represents a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,654 shares of company stock worth $3,101,811. 13.30% of the stock is owned by insiders.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $34.40 on Thursday. Scholar Rock Holding Corporation has a twelve month low of $6.76 and a twelve month high of $46.98. The stock’s 50 day moving average price is $35.62 and its 200-day moving average price is $33.92. The company has a market capitalization of $3.31 billion, a PE ratio of -11.82 and a beta of 0.48. 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 (NASDAQ:SRRK) last announced its earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.32). During the same period in the previous year, the firm posted ($0.60) earnings per share. On average, equities analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BMO Capital Markets cut their price target on Scholar Rock from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. 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. Wedbush reiterated an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Finally, Raymond James Financial set a $53.00 price target on Scholar Rock and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $45.14.

Scholar Rock Company 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.