Rhumbline Advisers Increases Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Rhumbline Advisers boosted its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,278 shares of the company’s stock after acquiring an additional 7,222 shares during the period. Rhumbline Advisers owned 0.13% of Scholar Rock worth $844,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in shares of Scholar Rock in the 2nd quarter valued at approximately $98,000. DNB Asset Management AS grew its stake in shares of Scholar Rock by 28.5% in the 2nd quarter. DNB Asset Management AS now owns 19,812 shares of the company’s stock valued at $165,000 after buying an additional 4,390 shares during the period. Walleye Trading LLC purchased a new stake in shares of Scholar Rock in the 1st quarter valued at approximately $178,000. Values First Advisors Inc. purchased a new stake in shares of Scholar Rock in the 2nd quarter valued at approximately $216,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Scholar Rock by 66.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,868 shares of the company’s stock valued at $246,000 after buying an additional 5,522 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SRRK. 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 restated a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a report on Tuesday, June 25th. Finally, Wedbush restated an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a report on Thursday, August 8th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $26.43.

Scholar Rock Price Performance

Scholar Rock stock opened at $8.67 on Tuesday. The firm has a market cap of $691.47 million, a PE ratio of -4.15 and a beta of 0.82. Scholar Rock Holding Co. has a 52-week low of $6.18 and a 52-week high of $21.17. 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 company’s 50 day moving average is $8.92 and its two-hundred day moving average is $11.14.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same quarter last year, the business earned ($0.47) EPS. On average, research analysts expect that Scholar Rock Holding Co. will post -2.39 EPS for the current fiscal year.

Scholar Rock Company 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.