Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Acquired by abrdn plc

abrdn plc raised its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 28.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 748,489 shares of the company’s stock after acquiring an additional 164,715 shares during the quarter. abrdn plc owned approximately 0.94% of Scholar Rock worth $5,995,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SRRK. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Scholar Rock during the 2nd quarter worth about $98,000. Hsbc Holdings PLC acquired a new position in shares of Scholar Rock during the 2nd quarter worth about $100,000. Point72 DIFC Ltd acquired a new position in shares of Scholar Rock during the 2nd quarter worth about $103,000. Finally, Creative Planning acquired a new position in shares of Scholar Rock during the 3rd quarter worth about $115,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Scholar Rock Stock Down 0.1 %

SRRK opened at $28.42 on Friday. The business has a 50 day moving average price of $16.80 and a two-hundred day moving average price of $12.65. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.27 billion, a PE ratio of -12.80 and a beta of 0.46. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $35.38.

Scholar Rock (NASDAQ:SRRK) last posted 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 previous year, the company earned ($0.47) EPS. As a group, research analysts anticipate that Scholar Rock Holding Co. will post -2.37 EPS for the current year.

Insider Transactions at Scholar Rock

In other news, insider Tracey Sacco sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the sale, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the company’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 completion of the sale, the director now owns 5,612,896 shares in the company, valued at approximately $164,177,208. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,415,340 shares of company stock valued at $40,666,088. Corporate insiders own 19.20% of the company’s stock.

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.