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

Rhumbline Advisers increased its stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,261 shares of the company's stock after acquiring an additional 13,247 shares during the quarter. Rhumbline Advisers owned about 0.12% of Scholar Rock worth $4,895,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SRRK. Creative Planning bought a new stake in shares of Scholar Rock in the 3rd quarter valued at $115,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock valued at $25,000 after acquiring an additional 514 shares during the last quarter. abrdn plc grew its holdings in Scholar Rock by 28.2% during the 3rd quarter. abrdn plc now owns 748,489 shares of the company's stock worth $5,995,000 after acquiring an additional 164,715 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Scholar Rock by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 15,393 shares of the company's stock worth $123,000 after acquiring an additional 6,023 shares during the period. Finally, Rice Hall James & Associates LLC lifted its stake in shares of Scholar Rock by 23.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 56,761 shares of the company's stock valued at $455,000 after purchasing an additional 10,761 shares during the period. 91.08% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wedbush reaffirmed an "outperform" rating and set a $47.00 target price on shares of Scholar Rock in a research note on Wednesday, January 29th. HC Wainwright raised their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Truist Financial lifted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $40.43.

Scholar Rock Stock Down 6.7 %

Scholar Rock stock traded down $2.62 during mid-day trading on Monday, reaching $36.20. The stock had a trading volume of 917,139 shares, compared to its average volume of 889,057. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The stock's 50-day simple moving average is $41.22 and its 200-day simple moving average is $29.64. The firm has a market capitalization of $3.39 billion, a PE ratio of -15.36 and a beta of 0.50.

Insider Activity at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total value of $2,562,274.00. Following the transaction, the insider now directly owns 111,084 shares of the company's stock, valued at approximately $4,154,541.60. This trade represents a 38.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jing L. Marantz sold 5,655 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the sale, the insider now directly owns 67,200 shares of the company's stock, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 149,974 shares of company stock valued at $5,927,710. 19.20% of the stock is owned by company insiders.

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.