Fmr LLC Boosts Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

FMR LLC boosted its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,196,046 shares of the company's stock after buying an additional 308,813 shares during the period. FMR LLC owned approximately 12.74% of Scholar Rock worth $81,670,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jane Street Group LLC raised its holdings in shares of Scholar Rock by 95.5% in the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company's stock worth $4,339,000 after acquiring an additional 119,363 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Scholar Rock by 28.5% in the second quarter. DNB Asset Management AS now owns 19,812 shares of the company's stock worth $165,000 after purchasing an additional 4,390 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Scholar Rock in the second quarter valued at approximately $216,000. Bank of New York Mellon Corp boosted its position in shares of Scholar Rock by 17.0% during the second quarter. Bank of New York Mellon Corp now owns 230,450 shares of the company's stock valued at $1,920,000 after buying an additional 33,468 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Scholar Rock during the second quarter worth $98,000. 91.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler raised their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Truist Financial boosted their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, November 25th. 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, November 25th. JPMorgan Chase & Co. boosted their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Finally, BMO Capital Markets increased their price target on Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, October 11th. 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 MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $40.43.

Insider Buying and Selling

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company'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 transaction, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracey Sacco sold 30,000 shares of the stock in a transaction on Monday, October 7th. The stock was 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 directly owns 49,285 shares in the company, valued at $1,262,681.70. The trade was a 37.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,823,322 shares of company stock valued at $56,411,627. Corporate insiders own 19.20% of the company's stock.

Scholar Rock Stock Performance

Shares of NASDAQ:SRRK traded up $1.73 during mid-day trading on Friday, reaching $43.59. The company had a trading volume of 615,023 shares, compared to its average volume of 1,145,608. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -17.81 and a beta of 0.58. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $44.00. The company's 50-day moving average price is $27.98 and its 200-day moving average price is $15.61.

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.