Intech Investment Management LLC Acquires New Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

Intech Investment Management LLC bought a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 25,191 shares of the company's stock, valued at approximately $202,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock worth $25,000 after buying an additional 514 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Scholar Rock by 3.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company's stock valued at $383,000 after purchasing an additional 1,594 shares during the last quarter. ClariVest Asset Management LLC grew its stake in shares of Scholar Rock by 3.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company's stock valued at $497,000 after purchasing an additional 1,718 shares during the last quarter. Algert Global LLC increased its holdings in shares of Scholar Rock by 34.7% in the second quarter. Algert Global LLC now owns 16,695 shares of the company's stock valued at $139,000 after purchasing an additional 4,305 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Scholar Rock by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 15,393 shares of the company's stock worth $123,000 after purchasing an additional 6,023 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK traded up $1.73 during trading on Friday, hitting $43.59. 615,023 shares of the stock were exchanged, compared to its average volume of 1,183,063. The company has a market cap of $4.08 billion, a PE ratio of -18.55 and a beta of 0.58. 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 company has a fifty day moving average price of $28.68 and a two-hundred day moving average price of $15.85. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $44.00.

Insider Buying and Selling

In other news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction on Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the transaction, the chief financial officer now owns 161,088 shares of the company's stock, valued at $4,278,497.28. The trade was a 56.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tracey Sacco sold 30,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. The trade was a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,823,322 shares of company stock valued at $56,411,627. 19.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. BMO Capital Markets boosted 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. JPMorgan Chase & Co. raised their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Wedbush boosted their target price on Scholar Rock from $40.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, November 25th. Finally, Truist Financial raised their price target on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Scholar Rock has a consensus rating of "Buy" and a consensus target price of $40.43.

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.