Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd reduced its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 39.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,466 shares of the company’s stock after selling 4,877 shares during the period. Point72 DIFC Ltd’s holdings in Scholar Rock were worth $60,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SRRK. Values First Advisors Inc. acquired a new stake in shares of Scholar Rock during the 2nd quarter worth approximately $216,000. Bank of New York Mellon Corp raised its position in Scholar Rock by 17.0% in the second quarter. Bank of New York Mellon Corp now owns 230,450 shares of the company’s stock valued at $1,920,000 after purchasing an additional 33,468 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Scholar Rock in the 2nd quarter valued at $98,000. Rhumbline Advisers grew its holdings in shares of Scholar Rock by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 101,278 shares of the company’s stock worth $844,000 after purchasing an additional 7,222 shares during the period. Finally, Candriam S.C.A. acquired a new stake in shares of Scholar Rock during the 2nd quarter worth about $6,201,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 4.3 %

Shares of NASDAQ:SRRK opened at $45.48 on Tuesday. 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 fifty-two week low of $6.76 and a fifty-two week high of $45.67. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -19.35 and a beta of 0.58. The firm’s 50 day moving average price is $29.43 and its 200 day moving average price is $16.12.

Insider Activity

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the sale, the director now owns 5,612,896 shares in the company, valued at approximately $164,177,208. The trade was a 17.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. The trade was a 37.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,823,322 shares of company stock worth $56,411,627. 19.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler increased their target price 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 lifted their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Wedbush upped their price target on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their price objective on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Truist Financial raised their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Scholar Rock presently has an average rating of “Buy” and an average price target of $40.43.

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.