Pictet Asset Management Holding SA Buys New Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Pictet Asset Management Holding SA bought a new position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 194,668 shares of the company's stock, valued at approximately $8,414,000. Pictet Asset Management Holding SA owned approximately 0.21% of Scholar Rock as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Scholar Rock by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company's stock valued at $1,600,000 after purchasing an additional 27,801 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Scholar Rock by 9.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock valued at $4,027,000 after buying an additional 42,139 shares during the period. Barclays PLC boosted its position in shares of Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company's stock valued at $1,324,000 after acquiring an additional 84,118 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Scholar Rock by 7.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company's stock valued at $759,000 after acquiring an additional 6,269 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock worth $12,361,000 after acquiring an additional 120,489 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wedbush reissued an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a report on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $42.67.

Insider Activity at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 12,539 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $554,223.80. Following the completion of the sale, the chief financial officer now owns 148,549 shares of the company's stock, valued at $6,565,865.80. This represents a 7.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jing L. Marantz sold 5,655 shares of Scholar Rock stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the transaction, the insider now directly owns 67,200 shares in the company, valued at $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 299,772 shares of company stock valued at $11,245,798 over the last 90 days. 19.20% of the stock is owned by insiders.

Scholar Rock Price Performance

SRRK stock traded down $0.86 during midday trading on Monday, reaching $26.04. The company had a trading volume of 1,686,120 shares, compared to its average volume of 1,195,882. The firm has a 50-day moving average price of $35.98 and a 200-day moving average price of $34.14. The company has a market capitalization of $2.47 billion, a P/E ratio of -11.08 and a beta of 0.56. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

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.