Principal Financial Group Inc. Makes New $98,000 Investment in Scholar Rock Holding Co. (NASDAQ:SRRK)

Principal Financial Group Inc. acquired a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,790 shares of the company’s stock, valued at approximately $98,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank raised its holdings in Scholar Rock by 15.5% in the 4th quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after acquiring an additional 652 shares in the last quarter. DNB Asset Management AS raised its stake in shares of Scholar Rock by 28.5% in the second quarter. DNB Asset Management AS now owns 19,812 shares of the company’s stock valued at $165,000 after purchasing an additional 4,390 shares in the last quarter. Walleye Trading LLC bought a new position in Scholar Rock in the first quarter worth $178,000. Values First Advisors Inc. acquired a new stake in Scholar Rock during the second quarter worth $216,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in 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. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Trading Down 5.5 %

Shares of Scholar Rock stock opened at $8.10 on Tuesday. The stock has a market capitalization of $648.24 million, a P/E ratio of -3.88 and a beta of 0.82. Scholar Rock Holding Co. has a 12-month low of $5.94 and a 12-month 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 has a 50-day simple moving average of $8.92 and a 200 day simple moving average of $11.45.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data 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 quarter last year, the business posted ($0.47) EPS. Research analysts expect that Scholar Rock Holding Co. will post -2.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Wedbush restated an “outperform” rating and set a $23.00 price target on shares of Scholar Rock in a research note on Thursday, August 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a research note on Tuesday, June 25th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.