Rhumbline Advisers Boosts Stake in Scholar Rock Holding Corporation $SRRK

Rhumbline Advisers raised its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 6.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,752 shares of the company’s stock after purchasing an additional 7,491 shares during the quarter. Rhumbline Advisers owned 0.13% of Scholar Rock worth $3,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its position in Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company’s stock valued at $32,000 after purchasing an additional 602 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Scholar Rock in the 1st quarter valued at $71,000. GF Fund Management CO. LTD. raised 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 buying an additional 430 shares during the period. Strs Ohio purchased a new stake in shares of Scholar Rock in the 1st quarter valued at $77,000. Finally, AlphaQuest LLC raised its holdings in shares of Scholar Rock by 490.7% in the 1st quarter. AlphaQuest LLC now owns 5,417 shares of the company’s stock valued at $174,000 after buying an additional 4,500 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Down 0.5%

Shares of NASDAQ SRRK opened at $31.67 on Monday. The stock has a market cap of $3.04 billion, a PE ratio of -10.88 and a beta of 0.36. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98. The business has a 50-day moving average price of $35.11 and a 200 day moving average price of $33.24.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.32). During the same quarter in the previous year, the business earned ($0.60) earnings per share. Equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SRRK shares. Lifesci Capital upgraded Scholar Rock to a “strong-buy” rating in a report on Tuesday, June 3rd. Cantor Fitzgerald started coverage on Scholar Rock in a report on Thursday, July 17th. They issued an “overweight” rating on the stock. Wedbush reiterated an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Wednesday, June 18th. Jefferies Financial Group initiated coverage on Scholar Rock in a report on Thursday, August 21st. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, BMO Capital Markets lowered their target price on Scholar Rock from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $45.75.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Jeffrey S. Flier sold 11,136 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $40.02, for a total transaction of $445,662.72. Following the completion of the sale, the director directly owned 24,070 shares of the company’s stock, valued at $963,281.40. This represents a 31.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $828,833.04. Following the sale, the insider directly owned 115,495 shares of the company’s stock, valued at approximately $3,977,647.80. This represents a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,654 shares of company stock valued at $2,299,310. 13.30% of the stock is 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.