Squarepoint Ops LLC Buys 134,621 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Squarepoint Ops LLC boosted its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 1,289.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,060 shares of the company’s stock after acquiring an additional 134,621 shares during the period. Squarepoint Ops LLC owned 0.18% of Scholar Rock worth $1,208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Scholar Rock by 95.5% in the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after purchasing an additional 119,363 shares during the period. Rafferty Asset Management LLC acquired a new stake in Scholar Rock during the fourth quarter worth about $2,025,000. Kennedy Capital Management LLC bought a new position in Scholar Rock in the 1st quarter valued at about $4,900,000. Vanguard Group Inc. raised its position in shares of Scholar Rock by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after buying an additional 114,550 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Scholar Rock by 16.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock worth $156,444,000 after acquiring an additional 1,149,519 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Trading Up 5.0 %

Shares of SRRK stock opened at $7.42 on Friday. 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 firm has a market capitalization of $591.77 million, a P/E ratio of -3.55 and a beta of 0.82. Scholar Rock Holding Co. has a twelve month low of $6.30 and a twelve month high of $21.17. The stock’s fifty day simple moving average is $8.73 and its 200 day simple moving average is $10.73.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.01. During the same period in the prior year, the firm earned ($0.47) EPS. As a group, sell-side analysts predict that Scholar Rock Holding Co. will post -2.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Scholar Rock from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, June 25th. BMO Capital Markets upped their price objective on Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $25.38.

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.