Point72 DIFC Ltd Acquires New Shares in Scholar Rock Holding Co. (NASDAQ:SRRK)

Point72 DIFC Ltd acquired a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,343 shares of the company’s stock, valued at approximately $103,000.

A number of other institutional investors also recently bought and sold shares of SRRK. TD Asset Management Inc increased its position in shares of Scholar Rock by 1.1% in the fourth quarter. TD Asset Management Inc now owns 339,894 shares of the company’s stock valued at $6,390,000 after buying an additional 3,600 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Scholar Rock in the fourth quarter valued at about $711,000. Rafferty Asset Management LLC acquired a new stake in shares of Scholar Rock in the fourth quarter valued at approximately $2,025,000. Bellevue Group AG grew its position in shares of Scholar Rock by 1.5% in the fourth quarter. Bellevue Group AG now owns 2,168,925 shares of the company’s stock valued at $40,776,000 after purchasing an additional 31,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake 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 purchasing an additional 1,149,519 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SRRK has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a report on Thursday, August 8th. BMO Capital Markets boosted their target price 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, June 25th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Scholar Rock presently has a consensus rating of “Buy” and an average price target of $26.43.

Scholar Rock Trading Down 7.0 %

NASDAQ SRRK opened at $7.45 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. Scholar Rock Holding Co. has a one year low of $6.22 and a one year high of $21.17. The company’s 50 day moving average price is $8.84 and its 200 day moving average price is $10.82. The firm has a market capitalization of $594.17 million, a price-to-earnings ratio of -3.56 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same period last year, the firm posted ($0.47) EPS. On average, sell-side analysts predict that Scholar Rock Holding Co. will post -2.39 EPS for the current 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.