Geode Capital Management LLC Raises Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Geode Capital Management LLC raised its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 14.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,770,324 shares of the company's stock after purchasing an additional 227,299 shares during the period. Geode Capital Management LLC owned 1.89% of Scholar Rock worth $76,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SRRK. GAMMA Investing LLC lifted its position in Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock worth $34,000 after buying an additional 269 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock valued at $39,000 after acquiring an additional 766 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock valued at $48,000 after purchasing an additional 1,031 shares during the period. Amalgamated Bank increased its position in Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after purchasing an additional 620 shares during the last quarter. Finally, KBC Group NV purchased a new position in Scholar Rock during the fourth quarter worth about $131,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Scholar Rock news, insider Tracey Sacco sold 6,500 shares of the business's 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 sale, the insider now owns 71,750 shares of the company's stock, valued at $2,373,490. The trade was 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 this link. Also, insider Mo Qatanani sold 68,510 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total value of $2,562,274.00. Following the transaction, the insider now owns 111,084 shares of the company's stock, valued at approximately $4,154,541.60. This represents a 38.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,231 shares of company stock valued at $9,056,086. Company insiders own 19.20% of the company's stock.

Scholar Rock Trading Up 1.4 %

SRRK traded up $0.41 on Thursday, hitting $30.17. The company had a trading volume of 192,381 shares, compared to its average volume of 1,228,903. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.86 billion, a P/E ratio of -12.89 and a beta of 0.56. The company's fifty day moving average price is $33.54 and its 200 day moving average price is $34.76. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98.

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.