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

abrdn plc acquired a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 168,997 shares of the company’s stock, valued at approximately $3,177,000. abrdn plc owned about 0.23% of Scholar Rock as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Amalgamated Bank raised its stake in shares of Scholar Rock by 52.8% in the third quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock worth $30,000 after purchasing an additional 1,458 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Scholar Rock by 4.1% in the third quarter. Alps Advisors Inc. now owns 41,535 shares of the company’s stock worth $295,000 after purchasing an additional 1,628 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Scholar Rock by 27.5% in the fourth 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 during the last quarter. Swiss National Bank raised its stake in shares of Scholar Rock by 5.4% in the third quarter. Swiss National Bank now owns 83,600 shares of the company’s stock worth $594,000 after purchasing an additional 4,300 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Scholar Rock by 26.5% in the fourth quarter. SG Americas Securities LLC now owns 27,198 shares of the company’s stock worth $511,000 after purchasing an additional 5,703 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Scholar Rock

In other news, General Counsel Junlin Ho sold 3,489 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $54,916.86. Following the completion of the transaction, the general counsel now directly owns 208,771 shares of the company’s stock, valued at $3,286,055.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Edward H. Myles sold 4,744 shares of Scholar Rock stock in a transaction on 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 sale, the chief financial officer now owns 210,976 shares of the company’s stock, valued at $3,320,762.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $54,916.86. Following the sale, the general counsel now directly owns 208,771 shares of the company’s stock, valued at approximately $3,286,055.54. The disclosure for this sale can be found here. Insiders sold 22,359 shares of company stock valued at $351,931 over the last three months. Company insiders own 26.20% of the company’s stock.

Scholar Rock Stock Up 4.1 %

NASDAQ:SRRK opened at $14.53 on Monday. 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 fifty day simple moving average of $15.30 and a two-hundred day simple moving average of $14.61. Scholar Rock Holding Co. has a 1 year low of $5.56 and a 1 year high of $21.17.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Tuesday, March 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). On average, analysts anticipate that Scholar Rock Holding Co. will post -2.01 earnings per share for the current year.

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.