Point72 Asset Management L.P. Increases Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Point72 Asset Management L.P. grew its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 249.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 28,649 shares of the company's stock after buying an additional 20,456 shares during the period. Point72 Asset Management L.P.'s holdings in Scholar Rock were worth $229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Scholar Rock by 3.1% in the third quarter. FMR LLC now owns 10,196,046 shares of the company's stock worth $81,670,000 after purchasing an additional 308,813 shares during the period. Millennium Management LLC increased its position in shares of Scholar Rock by 159.2% in the second quarter. Millennium Management LLC now owns 925,584 shares of the company's stock valued at $7,710,000 after acquiring an additional 568,512 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in shares of Scholar Rock by 5.1% in the 2nd quarter. Hood River Capital Management LLC now owns 832,792 shares of the company's stock valued at $6,937,000 after buying an additional 40,745 shares during the last quarter. abrdn plc increased its stake in shares of Scholar Rock by 28.2% during the 3rd quarter. abrdn plc now owns 748,489 shares of the company's stock worth $5,995,000 after purchasing an additional 164,715 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new stake in Scholar Rock in the second quarter valued at approximately $6,223,000. 91.08% of the stock is owned by institutional investors.

Scholar Rock Stock Up 0.8 %

SRRK stock traded up $0.33 during trading on Friday, reaching $41.98. 751,949 shares of the stock were exchanged, compared to its average volume of 1,140,675. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.19. The firm has a market cap of $3.93 billion, a P/E ratio of -17.86 and a beta of 0.58. The firm's 50 day moving average is $32.25 and its 200 day moving average is $16.93. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. HC Wainwright lifted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Truist Financial raised their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. 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. JPMorgan Chase & Co. upped their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Finally, Wedbush increased their price objective on Scholar Rock from $40.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $40.43.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company's 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 sale, the insider now directly owns 10,850,005 shares of the company's stock, valued at $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 available through this link. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the sale, the director now owns 5,612,896 shares in the company, valued at approximately $164,177,208. This represents a 17.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,823,322 shares of company stock worth $56,411,627. Insiders own 19.20% of the company's stock.

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.