abrdn plc Raises Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

abrdn plc boosted its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 28.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 748,489 shares of the company's stock after purchasing an additional 164,715 shares during the quarter. abrdn plc owned about 0.94% of Scholar Rock worth $5,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Capstone Investment Advisors LLC purchased a new position in Scholar Rock in the 1st quarter worth approximately $383,000. Jennison Associates LLC increased its holdings in shares of Scholar Rock by 1.0% in the 1st quarter. Jennison Associates LLC now owns 138,458 shares of the company's stock worth $2,459,000 after acquiring an additional 1,409 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Scholar Rock during the first quarter worth approximately $945,000. ProShare Advisors LLC boosted its position in Scholar Rock by 11.7% during the 1st quarter. ProShare Advisors LLC now owns 15,412 shares of the company's stock worth $274,000 after acquiring an additional 1,620 shares during the period. Finally, Vanguard Group Inc. grew its position in Scholar Rock by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company's stock valued at $52,739,000 after buying an additional 114,550 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler upped their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. 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 research note on Monday, October 14th. HC Wainwright lifted their price target on shares of Scholar Rock from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. BMO Capital Markets upped their price target on Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, October 11th. Finally, Wedbush raised their price objective on Scholar Rock from $27.00 to $37.00 and gave the stock an "outperform" rating in a research note on Monday, October 7th. Six 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, Scholar Rock has a consensus rating of "Buy" and an average target price of $33.29.

Scholar Rock Price Performance

Shares of Scholar Rock stock traded down $0.02 during trading on Friday, reaching $28.42. The company's stock had a trading volume of 1,006,322 shares, compared to its average volume of 4,195,044. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $35.38. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $16.80 and a two-hundred day moving average price of $12.64. The stock has a market capitalization of $2.27 billion, a P/E ratio of -12.80 and a beta of 0.46.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter in the prior year, the business posted ($0.47) earnings per share. As a group, sell-side analysts anticipate that Scholar Rock Holding Co. will post -2.37 EPS for the current fiscal year.

Insider Activity

In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction dated 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 transaction, the chief financial officer now directly owns 161,088 shares in the company, valued at approximately $4,278,497.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the transaction, the director now owns 5,612,896 shares of the company's stock, valued at $164,177,208. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward H. Myles sold 206,240 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 161,088 shares of the company's stock, valued at $4,278,497.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,415,340 shares of company stock valued at $40,666,088 in the last ninety days. 19.20% of the stock is owned by insiders.

Scholar Rock 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.