Candriam S.C.A. Cuts Stock Position in Scholar Rock Holding Corporation $SRRK

Candriam S.C.A. lessened its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 31.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 339,333 shares of the company’s stock after selling 157,423 shares during the period. Candriam S.C.A.’s holdings in Scholar Rock were worth $12,020,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Scholar Rock by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company’s stock worth $155,773,000 after buying an additional 101,723 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Scholar Rock by 26.5% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,018,000 shares of the company’s stock valued at $64,879,000 after acquiring an additional 423,131 shares during the last quarter. Geode Capital Management LLC grew its position in Scholar Rock by 2.2% in the second quarter. Geode Capital Management LLC now owns 1,887,410 shares of the company’s stock worth $66,861,000 after acquiring an additional 39,961 shares in the last quarter. Wellington Management Group LLP increased its stake in Scholar Rock by 6.9% during the first quarter. Wellington Management Group LLP now owns 1,844,997 shares of the company’s stock worth $59,317,000 after acquiring an additional 119,375 shares during the last quarter. Finally, Vestal Point Capital LP purchased a new stake in Scholar Rock during the first quarter valued at approximately $41,795,000. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Trading Up 24.4%

NASDAQ SRRK opened at $37.41 on Friday. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.60 billion, a PE ratio of -12.86 and a beta of 0.79. The company’s 50-day moving average price is $32.45 and its 200-day moving average price is $33.39. Scholar Rock Holding Corporation has a 12 month low of $22.71 and a 12 month high of $46.98.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly 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 quarter in the previous year, the company earned ($0.66) EPS. Equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Transactions at Scholar Rock

In other news, Director Srinivas Akkaraju purchased 387,414 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were purchased at an average price of $37.27 per share, for a total transaction of $14,438,919.78. Following the completion of the purchase, the director owned 387,414 shares in the company, valued at approximately $14,438,919.78. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mo Qatanani sold 3,353 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $30.67, for a total transaction of $102,836.51. Following the completion of the sale, the insider directly owned 108,964 shares of the company’s stock, valued at approximately $3,341,925.88. This trade represents a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 7,537 shares of company stock valued at $242,088. 13.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Jefferies Financial Group initiated coverage on Scholar Rock in a report on Thursday, August 21st. They issued a “buy” rating and a $50.00 target price for the company. Bank of America assumed coverage on Scholar Rock in a research report on Thursday, October 9th. They issued a “buy” rating and a $53.00 price target for the company. Piper Sandler cut their price objective on shares of Scholar Rock from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. BMO Capital Markets reissued an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Friday. Finally, Truist Financial dropped their price target on shares of Scholar Rock from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $49.00.

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.