Scholar Rock Holding Corporation (NASDAQ:SRRK) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 12.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,286 shares of the company’s stock after purchasing an additional 2,700 shares during the period. New York State Common Retirement Fund’s holdings in Scholar Rock were worth $813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. increased its holdings in shares of Scholar Rock by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock valued at $77,000 after acquiring an additional 430 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Scholar Rock by 16.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company’s stock valued at $350,000 after purchasing an additional 1,170 shares in the last quarter. Arizona State Retirement System increased its stake in Scholar Rock by 10.2% in the first quarter. Arizona State Retirement System now owns 18,767 shares of the company’s stock valued at $603,000 after purchasing an additional 1,734 shares during the last quarter. Corebridge Financial Inc. increased its stake in Scholar Rock by 5.2% in the fourth quarter. Corebridge Financial Inc. now owns 38,539 shares of the company’s stock valued at $1,666,000 after purchasing an additional 1,915 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Scholar Rock by 11.1% during the first quarter. SG Americas Securities LLC now owns 24,122 shares of the company’s stock worth $776,000 after purchasing an additional 2,412 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Stock Performance

Scholar Rock stock opened at $38.95 on Friday. Scholar Rock Holding Corporation has a 12-month low of $6.76 and a 12-month high of $46.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.25 and a quick ratio of 10.25. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -15.40 and a beta of 0.33. The firm’s fifty day moving average price is $34.45 and its 200 day moving average price is $35.01.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data 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 quarter in the previous year, the business posted ($0.59) earnings per share. On average, research analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SRRK has been the topic of a number of research analyst reports. Lifesci Capital upgraded Scholar Rock to a “strong-buy” rating in a research report on Tuesday, June 3rd. Cantor Fitzgerald initiated coverage on Scholar Rock in a research report on Thursday, July 17th. They set an “overweight” rating on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Wednesday, June 18th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $42.67.

Insiders Place Their Bets

In related news, Director Kristina Burow sold 5,400 shares of Scholar Rock stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $160,488.00. Following the transaction, the director owned 21,071 shares of the company’s stock, valued at approximately $626,230.12. This trade represents a 20.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mo Qatanani sold 24,066 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total transaction of $828,833.04. Following the completion of the sale, the insider owned 115,495 shares of the company’s stock, valued at approximately $3,977,647.80. This trade represents a 17.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,654 shares of company stock worth $3,101,811. 13.30% of the stock is owned by company insiders.

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.