Price T Rowe Associates Inc. MD Cuts Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Price T Rowe Associates Inc. MD lessened its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,208,113 shares of the company’s stock after selling 113,358 shares during the period. Price T Rowe Associates Inc. MD owned approximately 10.29% of Scholar Rock worth $145,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SRRK. Eventide Asset Management LLC acquired a new position in Scholar Rock during the fourth quarter worth $18,287,000. Goldman Sachs Group Inc. grew its holdings in Scholar Rock by 31.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock worth $26,898,000 after acquiring an additional 342,690 shares during the period. Hood River Capital Management LLC grew its holdings in Scholar Rock by 58.7% during the first quarter. Hood River Capital Management LLC now owns 792,047 shares of the company’s stock worth $14,067,000 after acquiring an additional 292,903 shares during the period. abrdn plc acquired a new position in Scholar Rock during the fourth quarter worth $3,177,000. Finally, Jennison Associates LLC acquired a new position in Scholar Rock during the fourth quarter worth $2,577,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Junlin Ho sold 4,695 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $42,161.10. Following the transaction, the general counsel now directly owns 204,076 shares in the company, valued at $1,832,602.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Edward H. Myles sold 9,458 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $84,932.84. Following the sale, the chief financial officer now directly owns 201,518 shares in the company, valued at approximately $1,809,631.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Junlin Ho sold 4,695 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the sale, the general counsel now owns 204,076 shares in the company, valued at $1,832,602.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,468 shares of company stock worth $147,883. 26.20% of the stock is owned by company insiders.

Scholar Rock Trading Down 2.9 %

NASDAQ SRRK traded down $0.27 during trading hours on Monday, hitting $9.01. 141,900 shares of the company’s stock were exchanged, compared to its average volume of 841,410. The business’s 50 day moving average is $9.16 and its 200-day moving average is $13.06. Scholar Rock Holding Co. has a 12-month low of $5.93 and a 12-month high of $21.17. The firm has a market capitalization of $718.58 million, a P/E ratio of -4.44 and a beta of 0.85. The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.58 and a current ratio of 6.58.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the previous year, the firm posted ($0.46) earnings per share. As a group, analysts anticipate that Scholar Rock Holding Co. will post -2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SRRK shares. Wedbush reissued an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a report on Tuesday, May 7th. BMO Capital Markets upped their target price on Scholar Rock from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a report on Tuesday, June 25th. Finally, Truist Financial reaffirmed a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research note on Wednesday, April 3rd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $26.00.

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.