Intech Investment Management LLC Invests $202,000 in Scholar Rock Holding Co. (NASDAQ:SRRK)

Intech Investment Management LLC bought a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 25,191 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors also recently bought and sold shares of SRRK. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after purchasing an additional 514 shares during the period. Principal Financial Group Inc. acquired a new stake in Scholar Rock during the 2nd quarter valued at $98,000. Hsbc Holdings PLC purchased a new stake in Scholar Rock during the 2nd quarter worth $100,000. Point72 DIFC Ltd acquired a new position in Scholar Rock in the 2nd quarter worth $103,000. Finally, Creative Planning purchased a new position in Scholar Rock in the 3rd quarter valued at about $115,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction dated Monday, October 7th. The shares were 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 of the company’s stock, valued at $164,177,208. This trade represents a 17.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction dated 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 sale, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. This represents a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,823,322 shares of company stock valued at $56,411,627. Company insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SRRK. Wedbush lifted their target price on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Truist Financial increased their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Piper Sandler lifted their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. BMO Capital Markets increased their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, HC Wainwright raised their price objective 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. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $40.43.

Scholar Rock Stock Performance

Shares of SRRK opened at $43.59 on Friday. The stock has a market capitalization of $4.08 billion, a PE ratio of -18.55 and a beta of 0.58. The business’s fifty day moving average price is $28.68 and its 200 day moving average price is $15.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $44.00.

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.