JPMorgan Chase & Co. Grows Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

JPMorgan Chase & Co. boosted its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,726 shares of the company’s stock after buying an additional 379 shares during the quarter. JPMorgan Chase & Co.’s holdings in Scholar Rock were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Scholar Rock by 21.6% during the 3rd 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 during the period. Cinctive Capital Management LP lifted 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 worth $344,000 after purchasing an additional 2,869 shares during the last quarter. Algert Global LLC boosted its position in shares of Scholar Rock by 34.7% during the second quarter. Algert Global LLC now owns 16,695 shares of the company’s stock valued at $139,000 after buying an additional 4,305 shares during the period. Quarry LP grew its stake in shares of 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 buying an additional 4,373 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Scholar Rock by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 15,393 shares of the company’s stock worth $123,000 after buying an additional 6,023 shares during the period. Institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Piper Sandler boosted their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. upped their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. HC Wainwright raised 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. Wedbush reissued an “outperform” rating and issued a $47.00 price objective on shares of Scholar Rock in a research report on Wednesday. Finally, BMO Capital Markets raised their target price 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. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Scholar Rock currently has an average rating of “Buy” and a consensus target price of $40.43.

Insider Activity

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the transaction, the insider now owns 10,850,005 shares in the company, valued at $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Junlin Ho sold 9,039 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $399,523.80. Following the completion of the transaction, the general counsel now owns 195,037 shares of the company’s stock, valued at $8,620,635.40. This represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 458,974 shares of company stock worth $17,948,788. Corporate insiders own 19.20% of the company’s stock.

Scholar Rock Trading Down 5.1 %

NASDAQ SRRK opened at $40.40 on Friday. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -17.19 and a beta of 0.52. The company’s 50-day simple moving average is $42.21 and its two-hundred day simple moving average is $25.08.

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.