abrdn plc Has $6.15 Million Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

abrdn plc lowered its stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 81.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,187 shares of the company's stock after selling 606,302 shares during the quarter. abrdn plc owned approximately 0.15% of Scholar Rock worth $6,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Scholar Rock by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company's stock worth $1,600,000 after purchasing an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock worth $4,027,000 after purchasing an additional 42,139 shares in the last quarter. Barclays PLC increased its stake in Scholar Rock by 103.4% in the 3rd quarter. Barclays PLC now owns 165,449 shares of the company's stock worth $1,324,000 after purchasing an additional 84,118 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Scholar Rock by 7.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company's stock worth $759,000 after purchasing an additional 6,269 shares in the last quarter. Finally, Geode Capital Management LLC increased 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 in the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Insider Activity

In other news, CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $554,223.80. Following the completion of the sale, the chief financial officer now directly owns 148,549 shares in the company, valued at $6,565,865.80. The trade was a 7.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the sale, the chief executive officer now owns 330,363 shares of the company's stock, valued at approximately $14,602,044.60. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,974 shares of company stock worth $17,948,788 in the last three months. 19.20% of the stock is owned by insiders.

Scholar Rock Stock Up 0.4 %

Shares of Scholar Rock stock traded up $0.16 during trading on Wednesday, hitting $37.19. 1,034,277 shares of the stock traded hands, compared to its average volume of 953,856. The stock has a market cap of $3.48 billion, a P/E ratio of -15.83 and a beta of 0.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The company has a fifty day moving average price of $42.61 and a two-hundred day moving average price of $27.03.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SRRK shares. HC Wainwright raised their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Wedbush restated an "outperform" rating and set a $47.00 price objective on shares of Scholar Rock in a research report on Wednesday, January 29th. Truist Financial raised their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Piper Sandler raised their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target 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.