Point72 Asset Management L.P. Raises Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Point72 Asset Management L.P. raised its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 249.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,649 shares of the company’s stock after buying an additional 20,456 shares during the quarter. Point72 Asset Management L.P.’s holdings in Scholar Rock were worth $229,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Clearbridge Investments LLC bought a new position in shares of Scholar Rock during the second quarter valued at approximately $6,223,000. Candriam S.C.A. purchased a new stake in shares of Scholar Rock in the 2nd quarter worth approximately $6,201,000. Fisher Asset Management LLC increased its position in Scholar Rock by 593.6% during the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock valued at $5,879,000 after buying an additional 628,186 shares in the last quarter. Millennium Management LLC grew its stake in shares of Scholar Rock by 159.2% in the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after acquiring an additional 568,512 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Scholar Rock by 1,051.3% during the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock valued at $4,059,000 after acquiring an additional 444,961 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Down 1.3 %

Scholar Rock stock opened at $41.65 on Friday. The stock has a market cap of $3.90 billion, a PE ratio of -17.72 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The stock has a fifty day moving average of $31.56 and a 200 day moving average of $16.72. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.19.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider Tracey Sacco sold 30,000 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This represents a 37.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the transaction, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. This represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,823,322 shares of company stock valued at $56,411,627. 19.20% of the stock is owned by insiders.

About Scholar Rock

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.