American International Group Inc. Raises Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)


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American International Group Inc. lifted its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,868 shares of the company’s stock after purchasing an additional 1,286 shares during the period. American International Group Inc.’s holdings in Scholar Rock were worth $722,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC grew its stake in Scholar Rock by 200.8% in the 4th quarter. Penserra Capital Management LLC now owns 770 shares of the company’s stock worth $37,000 after acquiring an additional 514 shares during the period. Great West Life Assurance Co. Can grew its stake in Scholar Rock by 177.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,660 shares of the company’s stock worth $50,000 after acquiring an additional 1,061 shares during the period. Metropolitan Life Insurance Co NY purchased a new stake in Scholar Rock in the 1st quarter worth approximately $108,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Scholar Rock in the 4th quarter worth approximately $117,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Scholar Rock in the 3rd quarter worth approximately $220,000. 61.87% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Gregory John Carven sold 36,774 shares of Scholar Rock stock in a transaction on Tuesday, January 26th. The shares were sold at an average price of $59.41, for a total transaction of $2,184,743.34. Following the sale, the insider now owns 50,870 shares of the company’s stock, valued at approximately $3,022,186.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Gilman sold 1,804 shares of Scholar Rock stock in a transaction on Monday, February 8th. The stock was sold at an average price of $65.06, for a total transaction of $117,368.24. Following the sale, the director now directly owns 42,155 shares in the company, valued at approximately $2,742,604.30. The disclosure for this sale can be found here. Insiders have sold a total of 42,079 shares of company stock worth $2,509,581 in the last 90 days. Company insiders own 24.60% of the company’s stock.

A number of brokerages have weighed in on SRRK. JPMorgan Chase & Co. began coverage on shares of Scholar Rock in a report on Wednesday, January 6th. They issued an “overweight” rating and a $59.00 price target on the stock. Credit Suisse Group began coverage on shares of Scholar Rock in a report on Monday, January 11th. They issued an “outperform” rating and a $65.00 price target on the stock. Wedbush lifted their price target on shares of Scholar Rock from $47.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, January 21st. Zacks Investment Research lowered shares of Scholar Rock from a “hold” rating to a “sell” rating in a report on Wednesday, February 10th. Finally, BMO Capital Markets lifted their price target on shares of Scholar Rock from $54.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, January 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $61.60.

NASDAQ:SRRK opened at $33.31 on Thursday. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -13.82 and a beta of 0.35. The firm’s fifty day simple moving average is $54.21 and its 200 day simple moving average is $44.20. Scholar Rock Holding Co. has a twelve month low of $10.28 and a twelve month high of $70.00.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Monday, March 8th. The company reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.16). The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $6.22 million. Scholar Rock had a negative net margin of 365.84% and a negative return on equity of 80.16%. The business’s revenue for the quarter was down 24.9% on a year-over-year basis. Equities research analysts forecast that Scholar Rock Holding Co. will post -2.63 EPS for the current year.

Scholar Rock Company Profile

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, a novel inhibitor of the activation of latent myostatin that has completed the Phase II clinical trials for the treatment of spinal muscular atrophy; and SRK-181, which is in Phase I clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1.

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

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