Y Intercept Hong Kong Ltd Takes Position in Scholar Rock Holding Corporation $SRRK

Y Intercept Hong Kong Ltd acquired a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 36,103 shares of the company’s stock, valued at approximately $1,279,000.

Several other large investors also recently bought and sold shares of SRRK. Vestal Point Capital LP bought a new stake in Scholar Rock in the first quarter worth $41,795,000. RA Capital Management L.P. increased its position in Scholar Rock by 6,351.3% in the first quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company’s stock worth $36,537,000 after purchasing an additional 1,118,837 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its position in Scholar Rock by 145.3% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 769,442 shares of the company’s stock worth $27,254,000 after purchasing an additional 455,753 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Scholar Rock by 26.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,018,000 shares of the company’s stock worth $64,879,000 after purchasing an additional 423,131 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Scholar Rock by 86.2% in the first quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company’s stock worth $28,207,000 after purchasing an additional 406,074 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SRRK shares. Leerink Partners started coverage on shares of Scholar Rock in a research report on Monday, September 15th. They issued an “outperform” rating and a $51.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Scholar Rock in a research report on Thursday, July 17th. They issued an “overweight” rating on the stock. Raymond James Financial set a $53.00 price target on shares of Scholar Rock and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. Barclays dropped their price objective on shares of Scholar Rock from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. Finally, Jefferies Financial Group assumed coverage on shares of Scholar Rock in a research note on Thursday, August 21st. They set a “buy” rating and a $50.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $48.50.

Insider Activity

In related news, Director Srinivas Akkaraju bought 113,025 shares of the stock in a transaction dated Monday, October 6th. The stock was purchased at an average cost of $38.65 per share, with a total value of $4,368,416.25. Following the completion of the purchase, the director owned 500,439 shares of the company’s stock, valued at $19,341,967.35. This trade represents a 29.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mo Qatanani sold 3,353 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $30.67, for a total transaction of $102,836.51. Following the sale, the insider directly owned 108,964 shares of the company’s stock, valued at $3,341,925.88. This represents a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 7,537 shares of company stock valued at $242,088. 13.30% of the stock is currently owned by company insiders.

Scholar Rock Stock Up 0.9%

NASDAQ SRRK opened at $29.62 on Monday. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $33.06 and a two-hundred day moving average of $33.53. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -10.18 and a beta of 0.42. Scholar Rock Holding Corporation has a 52 week low of $22.71 and a 52 week high of $46.98.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period in the prior year, the firm earned ($0.60) EPS. On average, analysts predict that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

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.