Creative Planning Invests $115,000 in Scholar Rock Holding Co. (NASDAQ:SRRK)

Creative Planning acquired a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,411 shares of the company’s stock, valued at approximately $115,000.

Several other hedge funds have also made changes to their positions in SRRK. Clearbridge Investments LLC bought a new position in shares of Scholar Rock during the 2nd quarter worth about $6,223,000. Candriam S.C.A. bought a new stake in Scholar Rock during the 2nd quarter worth approximately $6,201,000. Millennium Management LLC increased its holdings in Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after purchasing an additional 568,512 shares in the last quarter. Marshall Wace LLP boosted its stake in Scholar Rock by 1,051.3% in the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after purchasing an additional 444,961 shares in the last quarter. Finally, Hood River Capital Management LLC grew its holdings in shares of Scholar Rock by 58.7% during the first quarter. Hood River Capital Management LLC now owns 792,047 shares of the company’s stock worth $14,067,000 after purchasing an additional 292,903 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling

In other Scholar Rock news, insider Tracey Sacco sold 30,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares in the company, valued at $1,262,681.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of the 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 completion of the transaction, the chief financial officer now owns 161,088 shares in the company, valued at approximately $4,278,497.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,415,340 shares of company stock valued at $40,666,088. 19.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. 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. BMO Capital Markets increased their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. HC Wainwright boosted their target price on Scholar Rock from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Wedbush restated an “outperform” rating and set a $37.00 target price on shares of Scholar Rock in a research report on Monday, November 4th. 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. According to MarketBeat, Scholar Rock currently has an average rating of “Buy” and a consensus price target of $34.00.

Scholar Rock Stock Down 5.3 %

Shares of NASDAQ:SRRK opened at $26.66 on Wednesday. The company has a 50 day moving average price of $19.49 and a two-hundred day moving average price of $13.33. The company has a market capitalization of $2.13 billion, a PE ratio of -12.01 and a beta of 0.47. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $35.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04.

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.