Arizona State Retirement System Increases Stock Position in Scholar Rock Holding Corporation (NASDAQ:SRRK)

Arizona State Retirement System grew its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 10.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,767 shares of the company’s stock after acquiring an additional 1,734 shares during the quarter. Arizona State Retirement System’s holdings in Scholar Rock were worth $603,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SRRK. FMR LLC boosted its holdings 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 buying an additional 3,439,215 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Scholar Rock by 7.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company’s stock valued at $401,231,000 after purchasing an additional 629,315 shares during the last quarter. Vanguard Group Inc. increased its holdings in Scholar Rock by 17.6% in the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock worth $205,013,000 after acquiring an additional 708,817 shares in the last quarter. Marshall Wace LLP increased its holdings in Scholar Rock by 1,283.7% in the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock worth $127,301,000 after acquiring an additional 2,732,546 shares in the last quarter. Finally, Bellevue Group AG boosted its stake in Scholar Rock by 16.2% in the 4th quarter. Bellevue Group AG now owns 2,510,690 shares of the company’s stock worth $108,512,000 after purchasing an additional 349,487 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on SRRK shares. Wedbush restated an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a research report on Wednesday, June 18th. Cantor Fitzgerald started coverage on Scholar Rock in a research note on Thursday, July 17th. They set an “overweight” rating on the stock. Finally, Lifesci Capital upgraded Scholar Rock to a “strong-buy” rating in a research note on Tuesday, June 3rd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Scholar Rock presently has a consensus rating of “Buy” and a consensus target price of $42.67.

Insiders Place Their Bets

In related news, insider Akshay Vaishnaw sold 6,750 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.72, for a total transaction of $200,610.00. Following the transaction, the insider directly owned 616,205 shares in the company, valued at $18,313,612.60. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joshua Reed sold 5,400 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $160,488.00. Following the completion of the sale, the director owned 15,732 shares in the company, valued at approximately $467,555.04. This represents a 25.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,654 shares of company stock valued at $3,265,961 over the last quarter. 13.30% of the stock is owned by insiders.

Scholar Rock Stock Performance

Scholar Rock stock opened at $41.12 on Tuesday. The firm has a market capitalization of $3.90 billion, a P/E ratio of -16.25 and a beta of 0.33. The company has a current ratio of 10.25, a quick ratio of 10.25 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $33.76 and a 200 day moving average price of $35.00. Scholar Rock Holding Corporation has a 52 week low of $6.76 and a 52 week high of $46.98.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period last year, the company earned ($0.59) earnings per share. Equities research analysts anticipate that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

About Scholar Rock

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.