Scholar Rock Holding Corporation $SRRK Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 20.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 45,291 shares of the company’s stock after selling 11,493 shares during the period. Intech Investment Management LLC’s holdings in Scholar Rock were worth $1,604,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SRRK. CWM LLC raised its stake in Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company’s stock valued at $32,000 after buying an additional 602 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Scholar Rock during the 1st quarter worth about $71,000. Strs Ohio purchased a new stake in Scholar Rock during the first quarter worth approximately $77,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Scholar Rock by 15.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,668 shares of the company’s stock valued at $130,000 after purchasing an additional 500 shares in the last quarter. Finally, AlphaQuest LLC increased its stake in Scholar Rock by 490.7% in the first quarter. AlphaQuest LLC now owns 5,417 shares of the company’s stock valued at $174,000 after purchasing an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Insiders Place Their Bets

In related news, Director Katie Peng sold 1,006 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total transaction of $32,725.18. Following the completion of the sale, the director directly owned 33,914 shares of the company’s stock, valued at $1,103,222.42. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Srinivas Akkaraju acquired 113,025 shares of the company’s stock in a transaction on Monday, October 6th. The stock was purchased at an average cost of $38.65 per share, for a total transaction of $4,368,416.25. Following the completion of the purchase, the director directly owned 500,439 shares in the company, valued at $19,341,967.35. This trade represents a 29.17% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 7,537 shares of company stock valued at $242,088. 13.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of Scholar Rock from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 20th. BMO Capital Markets reissued an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a research report on Friday, November 14th. Bank of America began coverage on shares of Scholar Rock in a research note on Thursday, October 9th. They issued a “buy” rating and a $53.00 price objective for the company. Leerink Partners began coverage on Scholar Rock in a report on Monday, September 15th. They set an “outperform” rating and a $51.00 price objective on the stock. Finally, Piper Sandler reduced their target price on Scholar Rock from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $48.33.

Scholar Rock Trading Up 5.8%

Shares of Scholar Rock stock opened at $40.21 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.33 and a current ratio of 6.33. The company has a market capitalization of $4.10 billion, a P/E ratio of -13.82 and a beta of 0.79. Scholar Rock Holding Corporation has a 1 year low of $22.71 and a 1 year high of $46.98. The company’s fifty day moving average is $33.17 and its two-hundred day moving average is $33.63.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Friday, November 14th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same period last year, the business posted ($0.66) EPS. Analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

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.