Hood River Capital Management LLC Purchases 40,745 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Hood River Capital Management LLC grew its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 832,792 shares of the company’s stock after buying an additional 40,745 shares during the quarter. Hood River Capital Management LLC owned approximately 1.04% of Scholar Rock worth $6,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in Scholar Rock during the 2nd quarter valued at $100,000. Renaissance Technologies LLC bought a new position in shares of Scholar Rock in the second quarter valued at about $769,000. Rice Hall James & Associates LLC lifted its position in Scholar Rock by 3.6% during the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after buying an additional 1,594 shares in the last quarter. ClariVest Asset Management LLC grew its holdings in Scholar Rock by 3.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock worth $497,000 after acquiring an additional 1,718 shares during the last quarter. Finally, Quest Partners LLC increased its position in Scholar Rock by 629.2% in the 2nd quarter. Quest Partners LLC now owns 61,029 shares of the company’s stock valued at $508,000 after acquiring an additional 52,660 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Stock Down 7.7 %

Shares of Scholar Rock stock opened at $8.67 on Tuesday. Scholar Rock Holding Co. has a 12 month low of $6.18 and a 12 month high of $21.17. The business has a fifty day simple moving average of $8.92 and a 200 day simple moving average of $11.14. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $691.47 million, a PE ratio of -4.15 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.01. During the same period last year, the business earned ($0.47) EPS. Research analysts predict that Scholar Rock Holding Co. will post -2.39 EPS for the current year.

Wall Street Analyst Weigh In

SRRK has been the topic of several research analyst reports. BMO Capital Markets increased their price target on shares of Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a research note on Tuesday, June 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $23.00 price target on shares of Scholar Rock in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $26.43.

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.