Scholar Rock (NASDAQ:SRRK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Scholar Rock Holding Corporation is a biopharmaceutical company. It focused on the discovery and development of medicines for treatment of serious diseases. The company’s product candidate includes SRK-015 and BMP6 which is in pre-clinical stage. Scholar Rock Holding Corporation is based in Cambridge, United States. “
NASDAQ SRRK traded up $0.43 during mid-day trading on Thursday, reaching $23.86. 24,084 shares of the stock were exchanged, compared to its average volume of 64,807. Scholar Rock has a one year low of $13.09 and a one year high of $27.02.
A number of hedge funds and other institutional investors have recently made changes to their positions in SRRK. FMR LLC bought a new position in Scholar Rock during the second quarter worth $54,625,000. Redmile Group LLC bought a new position in Scholar Rock during the second quarter worth $27,306,000. Victory Capital Management Inc. bought a new position in Scholar Rock during the second quarter worth $1,475,000. Millennium Management LLC bought a new position in Scholar Rock during the second quarter worth $1,349,000. Finally, Marshall Wace LLP bought a new position in Scholar Rock during the second quarter worth $1,216,000. 48.37% of the stock is owned by institutional investors and hedge funds.
About Scholar Rock
Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development of various medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company is developing its lead antibody product candidate, SRK-015, a first-in-class inhibitor of the activation of myostatin that is in clinical development stage for the treatment of spinal muscular atrophy.
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