Wellington Management Group LLP Increases Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Wellington Management Group LLP raised its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,777 shares of the company's stock after purchasing an additional 27,801 shares during the quarter. Wellington Management Group LLP owned 0.21% of Scholar Rock worth $1,600,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial lifted their target price on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, November 25th. BMO Capital Markets lifted their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, October 11th. JPMorgan Chase & Co. upped their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. HC Wainwright raised their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Piper Sandler upped their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Scholar Rock has a consensus rating of "Buy" and an average target price of $40.43.

Scholar Rock Stock Up 2.0 %

Shares of NASDAQ:SRRK traded up $0.84 during trading on Thursday, reaching $42.09. The stock had a trading volume of 1,162,375 shares, compared to its average volume of 1,139,107. 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 market capitalization of $3.94 billion, a P/E ratio of -17.91 and a beta of 0.58. The firm's 50-day simple moving average is $33.29 and its 200 day simple moving average is $17.85. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.19.

Insider Buying and Selling at Scholar Rock

In related news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the sale, the chief financial officer now directly owns 161,088 shares in the company, valued at $4,278,497.28. This trade represents a 56.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tracey Sacco sold 30,000 shares of the company's 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 transaction, the insider now 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. Insiders sold a total of 1,821,386 shares of company stock worth $56,395,016 over the last three months. Corporate insiders own 19.20% of the company's stock.

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.