Octagon Capital Advisors LP Invests $21.09 Million in Scholar Rock Holding Co. (NASDAQ:SRRK)

Octagon Capital Advisors LP acquired a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 488,000 shares of the company's stock, valued at approximately $21,091,000. Scholar Rock accounts for approximately 3.5% of Octagon Capital Advisors LP's holdings, making the stock its 9th biggest holding. Octagon Capital Advisors LP owned about 0.52% of Scholar Rock at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC increased its holdings in Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company's stock valued at $589,316,000 after purchasing an additional 3,439,215 shares during the period. Marshall Wace LLP boosted its stake in Scholar Rock by 1,283.7% in the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock worth $127,301,000 after purchasing an additional 2,732,546 shares during the period. Norges Bank purchased a new position in shares of Scholar Rock in the fourth quarter valued at $86,043,000. Fairmount Funds Management LLC purchased a new stake in Scholar Rock in the 4th quarter worth about $84,839,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Scholar Rock in the 4th quarter worth about $68,930,000. 91.08% of the stock is currently owned by institutional investors.

Insider Activity

In other Scholar Rock news, insider Tracey Sacco sold 5,000 shares of Scholar Rock stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $32.83, for a total value of $164,150.00. Following the transaction, the insider now owns 71,750 shares in the company, valued at approximately $2,355,552.50. The trade was a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mo Qatanani sold 68,510 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total value of $2,562,274.00. Following the sale, the insider now owns 111,084 shares of the company's stock, valued at $4,154,541.60. The trade was a 38.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,231 shares of company stock valued at $9,220,236. Company insiders own 13.30% of the company's stock.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $32.46 on Tuesday. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -13.81 and a beta of 0.37. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The firm's fifty day simple moving average is $31.55 and its 200 day simple moving average is $35.94. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research report on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $42.67.

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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