Barclays PLC Buys 84,118 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Barclays PLC grew its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 103.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 165,449 shares of the company’s stock after purchasing an additional 84,118 shares during the quarter. Barclays PLC’s holdings in Scholar Rock were worth $1,324,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after purchasing an additional 120,489 shares during the period. Wellington Management Group LLP lifted its position in Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after buying an additional 27,801 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in Scholar Rock in the third quarter worth $1,337,000. Quarry LP increased its stake in Scholar Rock by 3,443.3% in the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Scholar Rock by 249.7% during the third quarter. Point72 Asset Management L.P. now owns 28,649 shares of the company’s stock valued at $229,000 after buying an additional 20,456 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Trading Down 0.9 %

Shares of SRRK stock opened at $40.49 on Monday. The business’s 50 day moving average is $37.85 and its two-hundred day moving average is $21.84. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.19. The company has a market capitalization of $3.79 billion, a P/E ratio of -17.23 and a beta of 0.52. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the transaction, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SRRK shares. JPMorgan Chase & Co. lifted their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. BMO Capital Markets lifted their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Wedbush restated an “outperform” rating and issued a $47.00 price objective on shares of Scholar Rock in a research report on Thursday. HC Wainwright boosted their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Truist Financial boosted their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $40.43.

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.