Eventide Asset Management LLC Has $19.30 Million Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Eventide Asset Management LLC decreased its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 21.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,409,207 shares of the company’s stock after selling 665,268 shares during the quarter. Eventide Asset Management LLC owned approximately 3.01% of Scholar Rock worth $19,298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jane Street Group LLC increased its position in Scholar Rock by 95.5% during the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after acquiring an additional 119,363 shares during the period. Clearbridge Investments LLC bought a new stake in Scholar Rock during the 2nd quarter worth about $6,223,000. Vanguard Group Inc. grew its holdings in Scholar Rock by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after acquiring an additional 114,550 shares during the last quarter. SG Americas Securities LLC bought a new stake in Scholar Rock during the 3rd quarter worth about $1,093,000. Finally, Exchange Traded Concepts LLC lifted its position in Scholar Rock by 74.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 101,679 shares of the company’s stock valued at $814,000 after purchasing an additional 43,457 shares during the period. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Price Performance

SRRK opened at $38.15 on Friday. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -16.23 and a beta of 0.47. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $43.38. The stock’s 50 day simple moving average is $24.88 and its 200 day simple moving average is $14.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. raised their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Piper Sandler raised their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Wedbush raised their target price on shares of Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Truist Financial lifted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $40.43.

Insider Activity at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the sale, the chief financial officer now directly owns 161,088 shares in the company, valued at $4,278,497.28. This represents a 56.15 % decrease in their ownership of the stock. 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 business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. The trade was a 37.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,823,322 shares of company stock worth $56,411,627 over the last ninety days. 19.20% of the stock is owned by corporate insiders.

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.