Exome Asset Management LLC Takes Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Exome Asset Management LLC purchased a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 133,039 shares of the company’s stock, valued at approximately $1,115,000. Exome Asset Management LLC owned approximately 0.14% of Scholar Rock at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new position in shares of Scholar Rock during the second quarter valued at approximately $216,000. Bank of New York Mellon Corp raised its position in shares of Scholar Rock by 17.0% in the 2nd 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 last quarter. Principal Financial Group Inc. bought a new position in Scholar Rock in the 2nd quarter worth about $98,000. Rhumbline Advisers grew its position in Scholar Rock by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 101,278 shares of the company’s stock valued at $844,000 after purchasing an additional 7,222 shares during the last quarter. Finally, Candriam S.C.A. bought a new stake in Scholar Rock during the 2nd quarter valued at about $6,201,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SRRK. Truist Financial upped their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. BMO Capital Markets upped their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Piper Sandler boosted their price target on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upped their price target on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. 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 research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.43.

Insider Activity

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

Scholar Rock Stock Performance

Shares of NASDAQ SRRK opened at $41.98 on Friday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.19. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -17.86 and a beta of 0.58. The firm has a 50 day moving average of $32.25 and a 200 day moving average of $16.93.

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.