Rhumbline Advisers Has $4.90 Million Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Rhumbline Advisers lifted its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 13.2% during the 4th quarter, HoldingsChannel reports. The firm owned 113,261 shares of the company’s stock after acquiring an additional 13,247 shares during the period. Rhumbline Advisers’ holdings in Scholar Rock were worth $4,895,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 worth $25,000 after buying an additional 514 shares during the last quarter. GAMMA Investing LLC grew its position in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the last quarter. Quarry LP grew its position in Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after acquiring an additional 4,373 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Creative Planning bought a new position in Scholar Rock in the third quarter valued at about $115,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Scholar Rock

In other Scholar Rock news, 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 transaction of $986,013.60. Following the transaction, the chief executive officer now directly owns 330,363 shares in the company, valued at approximately $14,602,044.60. This represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jing L. Marantz sold 5,655 shares of Scholar Rock stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the completion of the sale, the insider now directly owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 149,974 shares of company stock worth $5,927,710 over the last quarter. Company insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SRRK. Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. HC Wainwright upped their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Wedbush reiterated an “outperform” rating and set a $47.00 price target on shares of Scholar Rock in a report on Wednesday, January 29th. Six investment 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, Scholar Rock has a consensus rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Stock Down 2.9 %

Shares of NASDAQ SRRK opened at $35.96 on Friday. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The company’s 50 day moving average price is $41.34 and its 200-day moving average price is $29.16. The company has a market capitalization of $3.37 billion, a P/E ratio of -15.30 and a beta of 0.50.

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.