Woodline Partners LP Grows Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Woodline Partners LP raised its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 53.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,089,461 shares of the company's stock after purchasing an additional 379,630 shares during the period. Woodline Partners LP owned 1.16% of Scholar Rock worth $47,087,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SRRK. Global Retirement Partners LLC increased its position in shares of Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 766 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock worth $48,000 after buying an additional 1,031 shares in the last quarter. Amalgamated Bank grew its position 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 in the last quarter. KBC Group NV purchased a new stake in Scholar Rock during the fourth quarter worth approximately $131,000. Finally, NEOS Investment Management LLC purchased a new stake in Scholar Rock during the fourth quarter worth approximately $209,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed an "outperform" rating and issued a $50.00 target price 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 data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $42.67.

Scholar Rock Stock Performance

NASDAQ SRRK traded down $0.46 on Friday, reaching $30.00. The stock had a trading volume of 825,200 shares, compared to its average volume of 1,269,327. 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 12-month low of $6.76 and a 12-month high of $46.98. The business's 50-day moving average price is $30.77 and its 200 day moving average price is $35.98. The stock has a market cap of $2.85 billion, a P/E ratio of -12.77 and a beta of 0.37.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings data 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 prior year, the firm posted ($0.59) earnings per share. As a group, equities analysts expect that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Insider Transactions at Scholar Rock

In other news, insider Tracey Sacco sold 6,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $33.08, for a total transaction of $215,020.00. Following the completion of the sale, the insider now owns 71,750 shares in the company, valued at $2,373,490. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward H. Myles sold 142,292 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the sale, the chief financial officer now owns 111,345 shares of the company's stock, valued at $3,966,108.90. This trade represents a 56.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,798 shares of company stock worth $5,482,238 over the last 90 days. 13.30% of the stock is currently owned by insiders.

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.