abrdn plc Buys Shares of 168,997 Scholar Rock Holding Co. (NASDAQ:SRRK)

abrdn plc bought a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 168,997 shares of the company’s stock, valued at approximately $3,177,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank increased its stake in shares of Scholar Rock by 52.8% in the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock worth $30,000 after purchasing an additional 1,458 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Scholar Rock by 479.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock worth $157,000 after purchasing an additional 6,905 shares in the last quarter. Silverarc Capital Management LLC purchased a new stake in shares of Scholar Rock in the 3rd quarter worth $69,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Scholar Rock in the 3rd quarter worth $88,000. Finally, Arizona State Retirement System increased its stake in shares of Scholar Rock by 27.5% in the 4th quarter. Arizona State Retirement System now owns 13,796 shares of the company’s stock worth $259,000 after purchasing an additional 2,976 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SRRK. Truist Financial restated a “buy” rating and issued a $20.00 price objective on shares of Scholar Rock in a research note on Wednesday, April 3rd. Wedbush reiterated an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a research note on Tuesday, January 23rd. Piper Sandler reiterated an “overweight” rating and issued a $28.00 price target on shares of Scholar Rock in a research note on Tuesday, March 26th. Raymond James began coverage on Scholar Rock in a research note on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, March 19th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $25.17.

Insider Activity

In other news, CEO Jay T. Backstrom sold 11,614 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $182,804.36. Following the completion of the transaction, the chief executive officer now owns 352,671 shares in the company, valued at $5,551,041.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Edward H. Myles sold 4,744 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $74,670.56. Following the completion of the transaction, the chief financial officer now owns 210,976 shares in the company, valued at $3,320,762.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jay T. Backstrom sold 11,614 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $182,804.36. Following the transaction, the chief executive officer now owns 352,671 shares of the company’s stock, valued at approximately $5,551,041.54. The disclosure for this sale can be found here. Insiders sold a total of 22,359 shares of company stock worth $351,931 over the last 90 days. Corporate insiders own 26.20% of the company’s stock.

Scholar Rock Trading Up 4.1 %

Shares of SRRK stock opened at $14.53 on Monday. Scholar Rock Holding Co. has a 52-week low of $5.56 and a 52-week high of $21.17. The company has a current ratio of 8.80, a quick ratio of 8.80 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $15.30 and a two-hundred day simple moving average of $14.61.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). As a group, analysts forecast that Scholar Rock Holding Co. will post -2.01 earnings per share for the current fiscal year.

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.