Scholar Rock Holding Co. (NASDAQ:SRRK) Stock Position Increased by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 593.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 734,019 shares of the company’s stock after buying an additional 628,186 shares during the quarter. Fisher Asset Management LLC’s holdings in Scholar Rock were worth $5,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Scholar Rock by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after buying an additional 114,550 shares in the last quarter. American International Group Inc. raised its position in shares of Scholar Rock by 3.0% during the 1st quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after buying an additional 834 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Scholar Rock during the 1st quarter worth about $258,000. Jane Street Group LLC raised its position in shares of Scholar Rock by 95.5% during the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after buying an additional 119,363 shares in the last quarter. Finally, Walleye Trading LLC bought a new stake in shares of Scholar Rock during the 1st quarter worth about $178,000. 91.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SRRK. JPMorgan Chase & Co. boosted their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. HC Wainwright boosted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets lifted their price objective 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. Wedbush lifted their price objective on shares of Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Piper Sandler lifted their price objective 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. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $40.43.

Scholar Rock Stock Up 2.9 %

SRRK stock opened at $38.15 on Friday. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $43.38. The company’s 50 day simple moving average is $24.29 and its 200-day simple moving average is $14.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The firm has a market capitalization of $3.57 billion, a P/E ratio of -16.23 and a beta of 0.47.

Insider Activity

In other news, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. The trade was a 37.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the director now owns 5,612,896 shares in the company, valued at $164,177,208. This represents a 17.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,823,322 shares of company stock worth $56,411,627 over the last 90 days. 19.20% of the stock is owned by company insiders.

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.