Barclays PLC Purchases 84,118 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Barclays PLC increased its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 103.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,449 shares of the company’s stock after acquiring an additional 84,118 shares during the quarter. Barclays PLC owned approximately 0.18% of Scholar Rock worth $1,324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Scholar Rock by 16.2% during the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after buying an additional 27,801 shares during the period. Sphera Funds Management LTD. bought a new position in shares of Scholar Rock in the 3rd quarter worth $1,337,000. Quarry LP lifted its stake in shares of Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Scholar Rock by 249.7% during the third 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 in the last quarter. Finally, Cinctive Capital Management LP grew its stake in Scholar Rock by 7.2% in the third quarter. Cinctive Capital Management LP now owns 42,902 shares of the company’s stock valued at $344,000 after purchasing an additional 2,869 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This trade represents a 56.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,821,386 shares of company stock valued at $56,395,016 in the last ninety days. Company insiders own 19.20% of the company’s stock.

Scholar Rock Trading Down 2.8 %

Shares of Scholar Rock stock opened at $44.46 on Friday. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.19. The firm’s 50 day simple moving average is $35.25 and its two-hundred day simple moving average is $19.32. 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 firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -18.92 and a beta of 0.58.

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.