State Street Corp Sells 35,408 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

State Street Corp reduced its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,773,516 shares of the company's stock after selling 35,408 shares during the period. State Street Corp owned about 2.96% of Scholar Rock worth $22,216,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP grew its position in shares of Scholar Rock by 3,443.3% in the third quarter. Quarry LP now owns 4,500 shares of the company's stock valued at $36,000 after purchasing an additional 4,373 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Scholar Rock by 249.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 28,649 shares of the company's stock valued at $229,000 after purchasing an additional 20,456 shares during the period. Cinctive Capital Management LP grew its holdings in Scholar Rock by 7.2% in the 3rd quarter. Cinctive Capital Management LP now owns 42,902 shares of the company's stock valued at $344,000 after buying an additional 2,869 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Scholar Rock by 7.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company's stock worth $759,000 after buying an additional 6,269 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Scholar Rock by 900.6% during the third quarter. BNP Paribas Financial Markets now owns 36,331 shares of the company's stock worth $291,000 after buying an additional 32,700 shares in the last quarter. Institutional investors own 91.08% of the company's stock.

Insider Activity

In related news, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction 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 completion of the transaction, the insider now owns 49,285 shares of the company's stock, valued at $1,262,681.70. This trade represents a 37.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the company's stock in a transaction on Monday, October 7th. The shares were 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 1,821,386 shares of company stock valued at $56,395,016. Company insiders own 19.20% of the company's stock.

Scholar Rock Trading Down 1.8 %

Shares of SRRK stock traded down $0.82 during trading hours on Monday, hitting $43.96. 944,103 shares of the company's stock traded hands, compared to its average volume of 1,145,383. The stock has a market cap of $4.12 billion, a PE ratio of -18.71 and a beta of 0.58. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.19. The stock's 50 day simple moving average is $33.66 and its 200 day simple moving average is $18.21.

Wall Street Analyst Weigh In

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

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.