Sphera Funds Management LTD. Purchases New Shares in Scholar Rock Holding Co. (NASDAQ:SRRK)

Sphera Funds Management LTD. purchased a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 166,866 shares of the company’s stock, valued at approximately $1,337,000. Sphera Funds Management LTD. owned about 0.18% of Scholar Rock as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SRRK. Vanguard Group Inc. raised its holdings in shares of Scholar Rock by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after buying an additional 114,550 shares during the last quarter. Jane Street Group LLC increased its position in Scholar Rock by 95.5% in the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after purchasing an additional 119,363 shares during the period. DNB Asset Management AS increased its position in Scholar Rock by 28.5% in the second quarter. DNB Asset Management AS now owns 19,812 shares of the company’s stock worth $165,000 after purchasing an additional 4,390 shares during the period. Values First Advisors Inc. acquired a new stake in Scholar Rock in the second quarter worth about $216,000. Finally, Bank of New York Mellon Corp increased its position in Scholar Rock by 17.0% in 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. 91.08% of the stock is owned by institutional investors.

Scholar Rock Trading Up 1.0 %

NASDAQ SRRK opened at $39.77 on Thursday. The stock’s 50 day moving average price is $27.32 and its two-hundred day moving average price is $15.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $43.38.

Wall Street Analyst Weigh In

SRRK has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Truist Financial lifted their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler boosted their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. HC Wainwright boosted their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, 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. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $40.43.

Insider Transactions at Scholar Rock

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the sale, the director now owns 5,612,896 shares in the company, valued at $164,177,208. This represents a 17.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the sale, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. This represents a 37.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,823,322 shares of company stock worth $56,411,627 in the last 90 days. Corporate insiders own 19.20% of the company’s stock.

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.