Mirae Asset Global Investments Co. Ltd. Acquires 8,662 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 53.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,983 shares of the company’s stock after acquiring an additional 8,662 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Scholar Rock were worth $470,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SRRK. Amalgamated Bank lifted its position in Scholar Rock by 52.8% during the third quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock valued at $30,000 after purchasing an additional 1,458 shares in the last quarter. Silverarc Capital Management LLC purchased a new position in shares of Scholar Rock during the 3rd quarter valued at about $69,000. State Board of Administration of Florida Retirement System bought a new position in shares of Scholar Rock during the 3rd quarter valued at approximately $88,000. SG Americas Securities LLC purchased a new stake in Scholar Rock in the 3rd quarter worth approximately $153,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Scholar Rock by 479.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock worth $157,000 after acquiring an additional 6,905 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 19th. Wedbush reissued an “outperform” rating and set a $23.00 price target on shares of Scholar Rock in a report on Tuesday, January 23rd. Piper Sandler restated an “overweight” rating and issued a $28.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 26th. Truist Financial reiterated a “buy” rating and set a $20.00 target price on shares of Scholar Rock in a research report on Wednesday, April 3rd. Finally, Raymond James started coverage on Scholar Rock in a report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Scholar Rock has an average rating of “Buy” and a consensus target price of $25.17.

Insider Buying and Selling at Scholar Rock

In other news, insider Mo Qatanani sold 2,512 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $39,538.88. Following the sale, the insider now directly owns 147,019 shares in the company, valued at approximately $2,314,079.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Mo Qatanani sold 2,512 shares of Scholar Rock stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the completion of the transaction, the insider now owns 147,019 shares in the company, valued at $2,314,079.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jay T. Backstrom sold 11,614 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $182,804.36. Following the sale, the chief executive officer now directly owns 352,671 shares in the company, valued at $5,551,041.54. The disclosure for this sale can be found here. Insiders sold 22,359 shares of company stock worth $351,931 over the last 90 days. 26.20% of the stock is owned by insiders.

Scholar Rock Price Performance

NASDAQ:SRRK opened at $14.53 on Friday. The company has a market capitalization of $1.13 billion, a P/E ratio of -7.30 and a beta of 0.90. The business’s 50-day moving average is $15.33 and its 200 day moving average is $14.45. The company has a current ratio of 8.80, a quick ratio of 8.80 and a debt-to-equity ratio of 0.22. Scholar Rock Holding Co. has a 12 month low of $5.56 and a 12 month high of $21.17.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Tuesday, March 19th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). On average, equities research analysts forecast that Scholar Rock Holding Co. will post -2.01 earnings per share for the current fiscal year.

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.