Price T Rowe Associates Inc. MD Sells 113,358 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Price T Rowe Associates Inc. MD reduced its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 1.4% in the 1st quarter, Holdings Channel reports. 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 0.10% of Scholar Rock worth $145,777,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank raised its position in Scholar Rock by 15.5% during the fourth quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after purchasing an additional 652 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Scholar Rock by 479.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock worth $157,000 after buying an additional 6,905 shares in the last quarter. Spire Wealth Management acquired a new position in shares of Scholar Rock during the fourth quarter worth $178,000. Arizona State Retirement System increased its holdings in shares of Scholar Rock by 27.5% during the fourth quarter. Arizona State Retirement System now owns 13,796 shares of the company’s stock worth $259,000 after buying an additional 2,976 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Scholar Rock by 11.7% during the first quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock worth $274,000 after buying an additional 1,620 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Stock Down 2.9 %

Shares of SRRK stock traded down $0.27 on Monday, reaching $9.01. 141,900 shares of the company were exchanged, compared to its average volume of 841,410. The company has a market cap of $718.58 million, a price-to-earnings ratio of -4.44 and a beta of 0.85. The company has a 50-day moving average of $9.16 and a 200-day moving average of $13.06. 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 Holding Co. has a one year low of $5.93 and a one year high of $21.17.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly 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 quarter last year, the company earned ($0.46) EPS. Analysts anticipate that Scholar Rock Holding Co. will post -2.4 earnings per share for the current year.

Insider Activity at Scholar Rock

In related news, 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 transaction, the general counsel now owns 204,076 shares of the company’s stock, valued at approximately $1,832,602.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Scholar Rock news, General Counsel Junlin Ho sold 4,695 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 value of $42,161.10. Following the completion of the sale, the general counsel now owns 204,076 shares in the company, valued at approximately $1,832,602.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 completion of the sale, the chief financial officer now 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. In the last quarter, insiders have sold 16,468 shares of company stock valued at $147,883. 26.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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