Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 9.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 502,793 shares of the company's stock after acquiring an additional 42,139 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of Scholar Rock worth $4,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SRRK. Clearbridge Investments LLC acquired a new stake in Scholar Rock during the 2nd quarter worth $6,223,000. SG Americas Securities LLC acquired a new position in Scholar Rock during the third quarter worth about $1,093,000. Exchange Traded Concepts LLC grew its stake in Scholar Rock by 74.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 101,679 shares of the company's stock valued at $814,000 after acquiring an additional 43,457 shares in the last quarter. Marshall Wace LLP raised its holdings in Scholar Rock by 1,051.3% in the 2nd quarter. Marshall Wace LLP now owns 487,285 shares of the company's stock valued at $4,059,000 after acquiring an additional 444,961 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Scholar Rock in the 3rd quarter worth approximately $202,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Piper Sandler increased their price target on Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Truist Financial lifted their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, November 25th. HC Wainwright upped their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. BMO Capital Markets raised their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Friday, October 11th. Finally, Wedbush boosted their target price on shares of Scholar Rock from $40.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, November 25th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $40.43.

Scholar Rock Trading Up 0.8 %

Shares of SRRK traded up $0.33 during trading on Friday, reaching $41.98. 751,949 shares of the company traded hands, compared to its average volume of 1,140,675. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a 50-day simple moving average of $32.25 and a 200-day simple moving average of $16.98. The stock has a market cap of $3.93 billion, a PE ratio of -17.86 and a beta of 0.58. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.19.

Insider Buying and Selling

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the sale, the insider now owns 10,850,005 shares of the company's stock, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the transaction, the chief financial officer now directly owns 161,088 shares of the company's stock, valued at approximately $4,278,497.28. This trade represents a 56.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,823,322 shares of company stock valued at $56,411,627 over the last quarter. Company insiders own 19.20% of the company's stock.

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.