Quest Partners LLC Has $508,000 Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Quest Partners LLC raised its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 629.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,029 shares of the company’s stock after purchasing an additional 52,660 shares during the quarter. Quest Partners LLC owned 0.08% of Scholar Rock worth $508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SRRK. Price T Rowe Associates Inc. MD boosted its stake in Scholar Rock by 16.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after buying an additional 1,149,519 shares in the last quarter. Eventide Asset Management LLC bought a new stake in shares of Scholar Rock in the 4th quarter worth about $18,287,000. Candriam S.C.A. acquired a new stake in shares of Scholar Rock during the 2nd quarter worth about $6,201,000. Goldman Sachs Group Inc. increased its position in shares of Scholar Rock by 31.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock worth $26,898,000 after purchasing an additional 342,690 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its position in Scholar Rock by 58.7% in the first quarter. Hood River Capital Management LLC now owns 792,047 shares of the company’s stock valued at $14,067,000 after buying an additional 292,903 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Junlin Ho sold 4,695 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the transaction, the general counsel now directly owns 204,076 shares of the company’s stock, valued at $1,832,602.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Junlin Ho sold 4,695 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the sale, the general counsel now owns 204,076 shares of the company’s stock, valued at $1,832,602.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 9,458 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $84,932.84. Following the completion of the transaction, the chief financial officer now directly owns 201,518 shares of the company’s stock, valued at approximately $1,809,631.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,919 shares of company stock worth $161,420. Corporate insiders own 26.20% of the company’s stock.

Scholar Rock Stock Performance

SRRK stock opened at $8.26 on Friday. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $8.91 and its two-hundred day moving average price is $11.57. Scholar Rock Holding Co. has a 1-year low of $5.94 and a 1-year high of $21.17. The firm has a market cap of $661.05 million, a PE ratio of -3.95 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter last year, the firm posted ($0.47) earnings per share. As a group, research analysts forecast that Scholar Rock Holding Co. will post -2.39 earnings per share for the current year.

Analysts Set New Price Targets

SRRK has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a report on Thursday, August 8th. BMO Capital Markets raised their target price on 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 restated a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a research report on Tuesday, June 25th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and an average price target of $26.43.

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.