Candriam S.C.A. Sells 573,182 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Candriam S.C.A. decreased its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 49.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 582,354 shares of the company's stock after selling 573,182 shares during the period. Candriam S.C.A. owned about 0.62% of Scholar Rock worth $25,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC grew its holdings in Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company's stock valued at $81,670,000 after purchasing an additional 308,813 shares during the period. Geode Capital Management LLC lifted its position in shares of Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock valued at $12,361,000 after buying an additional 120,489 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Scholar Rock by 593.6% during the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company's stock valued at $5,879,000 after acquiring an additional 628,186 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Scholar Rock by 23.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,409 shares of the company's stock worth $26,901,000 after acquiring an additional 119,616 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Scholar Rock by 15.6% during the 4th quarter. Bank of New York Mellon Corp now owns 207,492 shares of the company's stock worth $8,968,000 after acquiring an additional 27,930 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Scholar Rock

In other Scholar Rock news, CEO Jay T. Backstrom sold 22,308 shares of the firm'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 transaction of $986,013.60. Following the completion of the transaction, the chief executive officer now owns 330,363 shares in the company, valued at $14,602,044.60. This trade represents a 6.33 % decrease in their position. 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 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 sale, the chief financial officer now directly owns 148,549 shares in the company, valued at $6,565,865.80. This trade represents a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,974 shares of company stock valued at $5,927,710. 19.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SRRK. Truist Financial upped their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. HC Wainwright upped their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Finally, Wedbush reissued an "outperform" rating and set a $47.00 price target on shares of Scholar Rock in a report on Wednesday, January 29th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $40.43.

Scholar Rock Price Performance

NASDAQ SRRK traded down $0.85 on Monday, reaching $35.15. The company had a trading volume of 994,417 shares, compared to its average volume of 1,163,426. The firm's 50 day moving average price is $40.35 and its 200 day moving average price is $30.59. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98. The stock has a market capitalization of $3.33 billion, a PE ratio of -14.96 and a beta of 0.59. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

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.