University of Texas Texas AM Investment Managment Co. Buys Shares of 28,423 Scholar Rock Holding Co. (NASDAQ:SRRK)

University of Texas Texas AM Investment Managment Co. bought a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,423 shares of the company’s stock, valued at approximately $534,000. Scholar Rock comprises approximately 0.2% of University of Texas Texas AM Investment Managment Co.’s portfolio, making the stock its 10th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in SRRK. Barclays PLC increased its position in Scholar Rock by 62.3% during the third quarter. Barclays PLC now owns 32,318 shares of the company’s stock worth $230,000 after acquiring an additional 12,409 shares during the period. Amalgamated Bank increased its holdings in Scholar Rock by 52.8% in the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock valued at $30,000 after buying an additional 1,458 shares during the period. Swiss National Bank increased its holdings in Scholar Rock by 5.4% in the 3rd quarter. Swiss National Bank now owns 83,600 shares of the company’s stock valued at $594,000 after buying an additional 4,300 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in Scholar Rock in the 3rd quarter valued at $88,000. Finally, FMR LLC increased its holdings in Scholar Rock by 3.8% in the 3rd quarter. FMR LLC now owns 8,005,654 shares of the company’s stock valued at $56,840,000 after buying an additional 291,156 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Price Performance

NASDAQ SRRK traded up $0.02 on Friday, hitting $9.45. 896,074 shares of the company were exchanged, compared to its average volume of 919,052. The firm has a 50 day moving average of $12.59 and a two-hundred day moving average of $14.94. The company has a market cap of $753.64 million, a P/E ratio of -4.52 and a beta of 0.80. The company has a current ratio of 6.58, a quick ratio of 6.58 and a debt-to-equity ratio of 0.24. Scholar Rock Holding Co. has a 1-year low of $5.93 and a 1-year high of $21.17.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same quarter in the prior year, the business posted ($0.46) EPS. On average, equities analysts predict that Scholar Rock Holding Co. will post -2.4 EPS for the current year.

Analyst Ratings Changes

SRRK has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of Scholar Rock from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a research note on Tuesday, June 4th. Wedbush restated an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a research note on Tuesday, May 7th. Truist Financial restated a “buy” rating and issued a $20.00 target price on shares of Scholar Rock in a research note on Wednesday, April 3rd. Finally, Raymond James initiated coverage on shares of Scholar Rock in a research note on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and an average target price of $26.00.

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.