Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,051 Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 12.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,557 shares of the company’s stock after acquiring an additional 2,051 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Scholar Rock were worth $597,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GF Fund Management CO. LTD. lifted its position in Scholar Rock by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock worth $77,000 after purchasing an additional 430 shares during the period. CWM LLC lifted its position in Scholar Rock by 152.8% during the first quarter. CWM LLC now owns 996 shares of the company’s stock worth $32,000 after purchasing an additional 602 shares during the period. Summit Investment Advisors Inc. lifted its position in Scholar Rock by 16.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company’s stock worth $350,000 after purchasing an additional 1,170 shares during the period. Arizona State Retirement System lifted its position in Scholar Rock by 10.2% during the first quarter. Arizona State Retirement System now owns 18,767 shares of the company’s stock worth $603,000 after purchasing an additional 1,734 shares during the period. Finally, SG Americas Securities LLC lifted its position 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 during the period. Institutional investors own 91.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SRRK shares. Lifesci Capital raised shares of Scholar Rock to a “strong-buy” rating in a research report on Tuesday, June 3rd. Wedbush reissued an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a report on Wednesday, June 18th. Raymond James Financial set a $53.00 target price on shares of Scholar Rock and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald started coverage on shares of Scholar Rock in a report on Thursday, July 17th. They issued an “overweight” rating for the company. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $44.14.

Scholar Rock Stock Performance

Scholar Rock stock opened at $34.62 on Thursday. The business has a 50 day moving average of $35.66 and a 200-day moving average of $34.70. Scholar Rock Holding Corporation has a 1 year low of $6.76 and a 1 year 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 $3.29 billion, a P/E ratio of -13.68 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same quarter in the prior year, the business earned ($0.60) earnings per share. On average, equities research analysts predict that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In other Scholar Rock news, insider Akshay Vaishnaw sold 6,750 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $200,610.00. Following the completion of the sale, the insider owned 616,205 shares of the company’s stock, valued at approximately $18,313,612.60. This represents a 1.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joshua Reed sold 5,400 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $160,488.00. Following the sale, the director directly owned 15,732 shares of the company’s stock, valued at $467,555.04. This represents a 25.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,654 shares of company stock valued at $3,101,811 over the last three months. Insiders own 13.30% of the company’s stock.

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.