MPM Bioimpact LLC Takes Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

MPM Bioimpact LLC purchased a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 416,144 shares of the company’s stock, valued at approximately $17,986,000. Scholar Rock comprises about 2.6% of MPM Bioimpact LLC’s investment portfolio, making the stock its 14th biggest holding. MPM Bioimpact LLC owned 0.44% of Scholar Rock as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. FMR LLC grew its stake in shares of Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company’s stock valued at $589,316,000 after acquiring an additional 3,439,215 shares during the period. Marshall Wace LLP raised its holdings in Scholar Rock by 1,283.7% during the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock valued at $127,301,000 after buying an additional 2,732,546 shares during the period. Norges Bank purchased a new stake in Scholar Rock during the 4th quarter valued at $86,043,000. Fairmount Funds Management LLC purchased a new stake in Scholar Rock during the 4th quarter valued at $84,839,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Scholar Rock during the fourth quarter worth $68,930,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $31.40 on Wednesday. The business has a 50-day moving average of $31.46 and a 200 day moving average of $35.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -13.36 and a beta of 0.37. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04). As a group, sell-side analysts forecast that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush restated an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a research note on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Scholar Rock currently has an average rating of “Buy” and a consensus target price of $42.67.

Insider Activity at Scholar Rock

In other news, insider Mo Qatanani sold 68,510 shares of Scholar Rock stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the transaction, the insider now directly owns 111,084 shares in the company, valued at approximately $4,154,541.60. This trade represents a 38.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward H. Myles sold 7,809 shares of Scholar Rock stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $287,605.47. Following the transaction, the chief financial officer now owns 140,740 shares in the company, valued at approximately $5,183,454.20. This trade represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 255,231 shares of company stock worth $9,220,236. 13.30% of the stock is currently owned by company insiders.

Scholar Rock 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.