DnB Asset Management AS Decreases Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

DnB Asset Management AS decreased its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 41.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,252 shares of the company's stock after selling 8,527 shares during the period. DnB Asset Management AS's holdings in Scholar Rock were worth $530,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Intech Investment Management LLC bought a new stake in Scholar Rock in the third quarter worth $202,000. Charles Schwab Investment Management Inc. raised its stake in shares of Scholar Rock by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock valued at $4,027,000 after acquiring an additional 42,139 shares during the period. FMR LLC lifted its holdings in shares of Scholar Rock by 3.1% in the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company's stock worth $81,670,000 after acquiring an additional 308,813 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Scholar Rock by 900.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 36,331 shares of the company's stock worth $291,000 after purchasing an additional 32,700 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Scholar Rock by 7.1% during the 3rd 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 purchasing an additional 6,269 shares during the last quarter. Institutional investors own 91.08% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at Scholar Rock

In related news, insider Tracey Sacco sold 6,500 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $33.08, for a total value of $215,020.00. Following the transaction, the insider now owns 71,750 shares of the company's stock, valued at $2,373,490. This represents a 8.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katie Peng sold 1,006 shares of Scholar Rock stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the sale, the director now directly owns 30,319 shares of the company's stock, valued at approximately $1,043,579.98. This trade represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is currently owned by company insiders.

Scholar Rock Trading Down 3.2 %

SRRK stock traded down $0.86 during trading on Monday, hitting $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 market capitalization of $2.47 billion, a P/E ratio of -11.08 and a beta of 0.56. 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 Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a 50 day simple moving average of $35.98 and a 200-day simple moving average of $34.14.

About Scholar Rock

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.