abrdn plc Takes $3.18 Million Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

abrdn plc acquired a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 168,997 shares of the company's stock, valued at approximately $3,177,000. abrdn plc owned approximately 0.23% of Scholar Rock at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SRRK. Amalgamated Bank lifted its position in shares of Scholar Rock by 52.8% during the third quarter. Amalgamated Bank now owns 4,217 shares of the company's stock valued at $30,000 after purchasing an additional 1,458 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Scholar Rock by 479.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company's stock valued at $157,000 after purchasing an additional 6,905 shares in the last quarter. Silverarc Capital Management LLC bought a new position in shares of Scholar Rock during the third quarter valued at about $69,000. State Board of Administration of Florida Retirement System bought a new position in shares of Scholar Rock during the third quarter valued at about $88,000. Finally, Arizona State Retirement System lifted its position in shares of Scholar Rock by 27.5% during the fourth quarter. Arizona State Retirement System now owns 13,796 shares of the company's stock valued at $259,000 after purchasing an additional 2,976 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

Insider Activity at Scholar Rock

In related news, CEO Jay T. Backstrom sold 11,614 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were 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 of the company's stock, valued at $5,551,041.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Scholar Rock news, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $54,916.86. Following the completion of the sale, the general counsel now directly owns 208,771 shares in the company, valued at $3,286,055.54. 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 Scholar Rock stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $182,804.36. Following the sale, the chief executive officer now owns 352,671 shares of the company's stock, valued at $5,551,041.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,359 shares of company stock valued at $351,931. Corporate insiders own 26.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Scholar Rock in a report on Tuesday, March 19th. Raymond James assumed coverage on shares of Scholar Rock in a report on Thursday, March 28th. They set a "strong-buy" rating and a $30.00 price objective for the company. Piper Sandler restated an "overweight" rating and set a $28.00 price objective on shares of Scholar Rock in a report on Tuesday, March 26th. Truist Financial restated a "buy" rating and set a $20.00 price objective on shares of Scholar Rock in a report on Wednesday, April 3rd. Finally, Wedbush restated an "outperform" rating and set a $23.00 price objective on shares of Scholar Rock in a report on Tuesday, January 23rd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Scholar Rock currently has a consensus rating of "Buy" and an average target price of $25.17.

Scholar Rock Stock Performance

Shares of SRRK traded up $0.36 during trading hours on Monday, hitting $14.89. The company's stock had a trading volume of 501,457 shares, compared to its average volume of 772,141. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -7.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80. The business has a 50 day simple moving average of $15.30 and a two-hundred day simple moving average of $14.61. Scholar Rock Holding Co. has a 52-week low of $5.56 and a 52-week high of $21.17.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.01). On average, equities analysts expect that Scholar Rock Holding Co. will post -2.01 earnings per share for the current fiscal year.

Scholar Rock Company 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.