Handelsbanken Fonder AB Takes $942,000 Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Handelsbanken Fonder AB acquired a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,800 shares of the company's stock, valued at approximately $942,000.

Several other large investors have also made changes to their positions in SRRK. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. GAMMA Investing LLC raised its stake in Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company's stock valued at $34,000 after purchasing an additional 269 shares during the last quarter. Quarry LP lifted its holdings in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company's stock valued at $36,000 after purchasing an additional 4,373 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 766 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock worth $48,000 after buying an additional 1,031 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, CEO Jay T. Backstrom sold 18,372 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $676,640.76. Following the transaction, the chief executive officer now owns 311,991 shares of the company's stock, valued at $11,490,628.53. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Edward H. Myles sold 12,539 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $554,223.80. Following the transaction, the chief financial officer now directly owns 148,549 shares of the company's stock, valued at approximately $6,565,865.80. This trade represents a 7.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 149,974 shares of company stock worth $5,927,710 over the last quarter. 19.20% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

SRRK has been the topic of a number of recent research reports. Wedbush restated an "outperform" rating and set a $47.00 price target on shares of Scholar Rock in a research report on Wednesday, January 29th. HC Wainwright upped their price target on Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $40.43.

Scholar Rock Trading Down 6.7 %

Shares of NASDAQ SRRK traded down $2.59 during midday trading on Monday, reaching $36.23. 1,061,494 shares of the stock were exchanged, compared to its average volume of 890,173. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The stock has a market capitalization of $3.39 billion, a P/E ratio of -15.42 and a beta of 0.50. The company has a 50 day simple moving average of $41.22 and a 200 day simple moving average of $29.64. 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 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.