Rhumbline Advisers Acquires 13,247 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Rhumbline Advisers lifted its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 13.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,261 shares of the company’s stock after purchasing an additional 13,247 shares during the quarter. Rhumbline Advisers owned 0.12% of Scholar Rock worth $4,895,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after acquiring an additional 269 shares during the last quarter. Quarry LP raised its holdings in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after acquiring an additional 4,373 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares during the last quarter. Finally, Creative Planning bought a new position in Scholar Rock in the third quarter valued at approximately $115,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Wall Street Analysts Forecast Growth

SRRK has been the topic of a number of analyst reports. Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. HC Wainwright increased their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Wedbush restated an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a research note on Wednesday, January 29th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $40.43.

Insider Activity at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the transaction, the insider now owns 111,084 shares in the company, valued at $4,154,541.60. This represents a 38.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the sale, the chief executive officer now directly owns 330,363 shares in the company, valued at $14,602,044.60. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,974 shares of company stock worth $5,927,710. Corporate insiders own 19.20% of the company’s stock.

Scholar Rock Stock Performance

Shares of NASDAQ SRRK opened at $35.96 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -15.30 and a beta of 0.50. The stock’s fifty day moving average price is $41.34 and its two-hundred day moving average price is $29.16. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98.

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.