Jennison Associates LLC Boosts Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

Jennison Associates LLC lifted its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRKFree Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,458 shares of the company’s stock after buying an additional 1,409 shares during the period. Jennison Associates LLC owned approximately 0.17% of Scholar Rock worth $2,459,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SRRK. Polar Capital Holdings Plc purchased a new stake in shares of Scholar Rock during the 3rd quarter valued at about $10,664,000. Price T Rowe Associates Inc. MD boosted its holdings in Scholar Rock by 16.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock worth $156,444,000 after purchasing an additional 1,149,519 shares during the last quarter. Eventide Asset Management LLC bought a new stake in Scholar Rock in the 4th quarter worth approximately $18,287,000. Goldman Sachs Group Inc. raised its stake in Scholar Rock by 31.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock valued at $26,898,000 after buying an additional 342,690 shares during the last quarter. Finally, abrdn plc bought a new position in shares of Scholar Rock during the 4th quarter valued at $3,177,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK opened at $7.88 on Wednesday. The company has a market capitalization of $628.46 million, a P/E ratio of -3.77 and a beta of 0.85. Scholar Rock Holding Co. has a 1-year low of $5.93 and a 1-year high of $21.17. The firm’s 50 day simple moving average is $10.54 and its two-hundred day simple moving average is $13.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.58 and a quick ratio of 6.58.

Scholar Rock (NASDAQ:SRRKGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same quarter in the prior year, the firm posted ($0.46) EPS. Research analysts expect that Scholar Rock Holding Co. will post -2.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on SRRK. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Scholar Rock in a report on Tuesday, March 26th. BMO Capital Markets increased their price objective on shares of Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Wedbush restated an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a research report on Tuesday, May 7th. Raymond James began coverage on shares of Scholar Rock in a research report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price target on the stock. Finally, Truist Financial reissued a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research report on Wednesday, April 3rd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $26.00.

Check Out Our Latest Analysis on Scholar Rock

Insider Activity

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

Scholar Rock Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Scholar Rock (NASDAQ:SRRK)

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