Barclays PLC Increases Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Barclays PLC increased its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 103.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 165,449 shares of the company’s stock after buying an additional 84,118 shares during the period. Barclays PLC owned about 0.18% of Scholar Rock worth $1,324,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Quarry LP lifted its position in Scholar Rock by 3,443.3% during 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. Principal Financial Group Inc. bought a new stake in Scholar Rock during the second quarter valued at approximately $98,000. Hsbc Holdings PLC bought a new stake in Scholar Rock during the second quarter valued at approximately $100,000. Finally, Point72 DIFC Ltd bought a new stake in Scholar Rock during the second quarter valued at approximately $103,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

SRRK has been the subject of several research analyst reports. Piper Sandler lifted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. 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 research note on Monday, November 25th. HC Wainwright lifted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price target 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. Finally, BMO Capital Markets lifted their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $40.43.

Insider Buying and Selling

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.20% of the stock is owned by insiders.

Scholar Rock Stock Down 0.9 %

Shares of NASDAQ SRRK opened at $40.49 on Monday. 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 52 week low of $6.76 and a 52 week high of $46.19. The firm’s fifty day moving average is $37.85 and its 200 day moving average is $21.84. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -17.23 and a beta of 0.52.

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.