Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 900.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,331 shares of the company's stock after purchasing an additional 32,700 shares during the period. BNP Paribas Financial Markets' holdings in Scholar Rock were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Scholar Rock by 17.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 230,450 shares of the company's stock valued at $1,920,000 after purchasing an additional 33,468 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Scholar Rock in the second quarter valued at $98,000. Rhumbline Advisers lifted its holdings in Scholar Rock by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 101,278 shares of the company's stock worth $844,000 after buying an additional 7,222 shares during the last quarter. Candriam S.C.A. acquired a new position in shares of Scholar Rock during the 2nd quarter worth about $6,201,000. Finally, Quest Partners LLC increased its holdings in shares of Scholar Rock by 629.2% in the 2nd quarter. Quest Partners LLC now owns 61,029 shares of the company's stock valued at $508,000 after acquiring an additional 52,660 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Wall Street Analysts Forecast Growth

SRRK has been the subject of a number of research analyst reports. Wedbush upped their price target on Scholar Rock from $40.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, November 25th. HC Wainwright upped their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. BMO Capital Markets increased their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, October 11th. Piper Sandler boosted 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. Finally, JPMorgan Chase & Co. raised their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $40.43.

Insiders Place Their Bets

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the firm's stock in a transaction on Monday, October 7th. The shares were 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 trade represents a 17.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction dated 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 completion of the sale, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders 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

Scholar Rock stock traded up $0.89 during midday trading on Monday, hitting $42.87. 861,212 shares of the company's stock were exchanged, compared to its average volume of 1,139,520. 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 market cap of $4.01 billion, a price-to-earnings ratio of -18.35 and a beta of 0.58. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.19. The firm's 50 day simple moving average is $32.25 and its 200 day simple moving average is $17.03.

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.