China Universal Asset Management Co. Ltd. Purchases 6,023 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

China Universal Asset Management Co. Ltd. lifted its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 64.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,393 shares of the company’s stock after acquiring an additional 6,023 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Scholar Rock were worth $123,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SRRK. Capstone Investment Advisors LLC purchased a new position in shares of Scholar Rock in the first quarter worth about $383,000. Jennison Associates LLC grew its stake in Scholar Rock by 1.0% in the 1st quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock valued at $2,459,000 after buying an additional 1,409 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Scholar Rock during the 1st quarter valued at $945,000. ProShare Advisors LLC lifted its position in shares of Scholar Rock by 11.7% during the first quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock worth $274,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Scholar Rock by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after purchasing an additional 114,550 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Down 5.1 %

Shares of NASDAQ:SRRK opened at $28.44 on Friday. The firm has a fifty day moving average of $16.03 and a 200 day moving average of $12.43. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $35.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. The firm has a market capitalization of $2.27 billion, a PE ratio of -13.63 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same period in the prior year, the business earned ($0.47) EPS. As a group, research analysts anticipate that Scholar Rock Holding Co. will post -2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the completion of the sale, the director now owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Tracey Sacco sold 30,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares in the company, valued at $1,262,681.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the transaction, the director now owns 5,612,896 shares in the company, valued at approximately $164,177,208. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,415,340 shares of company stock valued at $40,666,088. 26.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. HC Wainwright increased their price objective on Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets upped their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Piper Sandler boosted their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Wedbush increased their price objective on Scholar Rock from $27.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and an average target price of $33.29.

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.