UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK – Free Report) by 7.1% in the third quarter, Holdings Channel reports. The institutional investor owned 94,795 shares of the company’s stock after buying an additional 6,269 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Scholar Rock were worth $759,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in SRRK. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 acquiring an additional 514 shares during the period. Rice Hall James & Associates LLC increased its position in shares of Scholar Rock by 3.6% in the second quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after purchasing an additional 1,594 shares during the period. ClariVest Asset Management LLC raised its stake in Scholar Rock by 3.0% in the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock valued at $497,000 after purchasing an additional 1,718 shares in the last quarter. Algert Global LLC raised its stake in Scholar Rock by 34.7% in the second quarter. Algert Global LLC now owns 16,695 shares of the company’s stock valued at $139,000 after purchasing an additional 4,305 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Scholar Rock by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 15,393 shares of the company’s stock worth $123,000 after purchasing an additional 6,023 shares during the period. 91.08% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on SRRK. Piper Sandler boosted 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. JPMorgan Chase & Co. boosted their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wedbush raised their target price on Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, November 25th. BMO Capital Markets lifted their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, HC Wainwright upped their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Six investment 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 stock currently has a consensus rating of “Buy” and a consensus price target of $40.43.
Insider Buying and Selling
In other news, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the sale, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This trade represents a 37.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business’s 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 sale, the insider now owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,821,386 shares of company stock worth $56,395,016 in the last 90 days. Insiders own 19.20% of the company’s stock.
Scholar Rock Stock Performance
NASDAQ SRRK opened at $42.09 on Friday. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.19. The stock has a market cap of $3.94 billion, a PE ratio of -17.91 and a beta of 0.58. 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 firm’s fifty day moving average price is $33.29 and its two-hundred day moving average price is $17.85.
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.
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