Scholar Rock Holding Co. (NASDAQ:SRRK) Stake Boosted by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in Scholar Rock Holding Co. (NASDAQ:SRRK) by 16.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,777 shares of the company’s stock after acquiring an additional 27,801 shares during the quarter. Wellington Management Group LLP owned approximately 0.21% of Scholar Rock worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares during the last quarter. Quarry LP increased its holdings 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 buying an additional 4,373 shares during the last quarter. Principal Financial Group Inc. bought a new position in Scholar Rock during the second quarter valued at approximately $98,000. Hsbc Holdings PLC acquired a new stake in Scholar Rock in the second quarter valued at approximately $100,000. Finally, Point72 DIFC Ltd bought a new stake in Scholar Rock in the second quarter worth approximately $103,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Buying and Selling

In related news, insider Tracey Sacco sold 30,000 shares of Scholar Rock 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 sale, the insider now directly owns 49,285 shares of the company’s stock, valued at $1,262,681.70. This trade represents a 37.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. The trade was a 3.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,821,386 shares of company stock valued at $56,395,016. 19.20% of the stock is owned by company insiders.

Scholar Rock Stock Performance

SRRK opened at $41.25 on Thursday. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.19. The firm has a market capitalization of $3.86 billion, a P/E ratio of -17.55 and a beta of 0.58. The stock’s 50 day moving average price is $32.97 and its two-hundred day moving average price is $17.68. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SRRK shares. Truist Financial lifted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. HC Wainwright raised their target price on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler increased their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Wedbush boosted their target price on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. upped their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $40.43.

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.