Fisher Asset Management LLC Purchases 628,186 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Fisher Asset Management LLC grew its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 593.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 734,019 shares of the company's stock after buying an additional 628,186 shares during the quarter. Fisher Asset Management LLC owned 0.92% of Scholar Rock worth $5,879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 valued at $25,000 after purchasing an additional 514 shares during the last quarter. Walleye Trading LLC bought a new stake in Scholar Rock during the first quarter worth $178,000. Principal Financial Group Inc. purchased a new stake in Scholar Rock in the 2nd quarter valued at $98,000. Hsbc Holdings PLC purchased a new stake in Scholar Rock in the 2nd quarter valued at $100,000. Finally, Point72 DIFC Ltd bought a new position in Scholar Rock during the 2nd quarter valued at $103,000. 91.08% of the stock is owned by institutional investors.

Scholar Rock Stock Performance

Shares of NASDAQ:SRRK traded up $1.75 during mid-day trading on Friday, reaching $39.90. The company had a trading volume of 839,720 shares, compared to its average volume of 1,150,697. The company's 50-day moving average price is $24.88 and its 200-day moving average price is $14.70. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $43.38. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -16.23 and a beta of 0.47. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Wall Street Analysts Forecast Growth

SRRK has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Wedbush increased their price objective on shares of Scholar Rock from $40.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday. BMO Capital Markets boosted their target price on Scholar Rock from $34.00 to $38.00 and gave the stock an "outperform" rating in a research note on Friday, October 11th. Truist Financial upped their target price on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday. Finally, HC Wainwright lifted their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday. Six research 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, Scholar Rock has a consensus rating of "Buy" and a consensus target price of $40.43.

Insider Transactions at Scholar Rock

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the transaction, the insider now directly owns 10,850,005 shares of the company's stock, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction that occurred on Monday, October 7th. The shares were 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 owns 49,285 shares of the company's stock, valued at $1,262,681.70. This represents a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,823,322 shares of company stock worth $56,411,627. 19.20% of the stock is owned by company 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.