Squarepoint Ops LLC Acquires Shares of 20,188 Scholar Rock Holding Co. (NASDAQ:SRRK)

Squarepoint Ops LLC bought a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,188 shares of the company's stock, valued at approximately $873,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC raised its position in Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock valued at $39,000 after purchasing an additional 766 shares in the last quarter. Amalgamated Bank increased its stake in shares of Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after buying an additional 620 shares during the period. KBC Group NV acquired a new stake in Scholar Rock in the fourth quarter valued at approximately $131,000. NEOS Investment Management LLC purchased a new position in Scholar Rock in the fourth quarter worth approximately $209,000. Finally, Tema Etfs LLC acquired a new position in Scholar Rock during the 4th quarter worth approximately $209,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 4.0%

Shares of NASDAQ:SRRK traded up $1.18 during trading on Tuesday, hitting $30.94. 802,164 shares of the company were exchanged, compared to its average volume of 1,266,099. 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's 50 day moving average price is $30.33 and its 200-day moving average price is $36.12. The stock has a market capitalization of $2.94 billion, a P/E ratio of -13.17 and a beta of 0.37. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same quarter in the previous year, the firm earned ($0.59) EPS. On average, research analysts predict that Scholar Rock Holding Co. will post -2.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a research report on Wednesday, May 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Scholar Rock presently has a consensus rating of "Buy" and a consensus price target of $42.67.

Insider Activity

In related news, Director Katie Peng sold 1,006 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the completion of the sale, the director now owns 30,319 shares in the company, valued at $1,043,579.98. This represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Akshay Vaishnaw sold 6,750 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total transaction of $200,610.00. Following the sale, the insider now owns 616,205 shares of the company's stock, valued at approximately $18,313,612.60. This represents a 1.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 181,798 shares of company stock valued at $6,284,738. Insiders own 13.30% of the company's stock.

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.