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

Point72 DIFC Ltd decreased its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 39.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,466 shares of the company’s stock after selling 4,877 shares during the quarter. Point72 DIFC Ltd’s holdings in Scholar Rock were worth $60,000 as of its most recent filing with the SEC.

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

Insider Transactions at Scholar Rock

In other news, CFO Edward H. Myles sold 206,240 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the transaction, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at $4,278,497.28. The trade was a 56.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the sale, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. This represents a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,823,322 shares of company stock valued at $56,411,627 in the last 90 days. 19.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SRRK shares. Truist Financial lifted their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wedbush boosted their target price on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. HC Wainwright increased their target price on 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. upped their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, BMO Capital Markets raised their target price on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report 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’s stock. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $45.48 on Tuesday. 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 stock has a market cap of $4.26 billion, a PE ratio of -19.35 and a beta of 0.58. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $45.67. The stock has a fifty day moving average price of $29.43 and a 200 day moving average price of $16.12.

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.