Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,543,025 shares of the company's stock after buying an additional 120,489 shares during the quarter. Geode Capital Management LLC owned 1.65% of Scholar Rock worth $12,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company's stock valued at $1,600,000 after acquiring an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Scholar Rock by 9.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock worth $4,027,000 after purchasing an additional 42,139 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Scholar Rock during the second quarter worth approximately $6,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Scholar Rock by 7.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company's stock worth $759,000 after buying an additional 6,269 shares during the period. Finally, Barclays PLC increased its position in Scholar Rock by 103.4% in the 3rd quarter. Barclays PLC now owns 165,449 shares of the company's stock valued at $1,324,000 after acquiring an additional 84,118 shares during the period. Hedge funds and other institutional investors own 91.08% of the company's stock.

Analyst Ratings Changes

SRRK has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Truist Financial boosted their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. BMO Capital Markets raised their target price on Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, October 11th. HC Wainwright lifted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Piper Sandler raised their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Scholar Rock presently has a consensus rating of "Buy" and an average target price of $40.43.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK traded up $0.31 on Wednesday, hitting $43.22. The company had a trading volume of 1,246,801 shares, compared to its average volume of 1,136,856. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.19. The company has a market cap of $4.05 billion, a PE ratio of -18.39 and a beta of 0.58. The business has a 50 day moving average of $35.79 and a 200 day moving average of $19.93. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Transactions at Scholar Rock

In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the transaction, the director now directly owns 5,612,896 shares of the company's stock, valued at approximately $164,177,208. This trade represents a 17.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the business's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 1,821,386 shares of company stock worth $56,395,016 over the last quarter. 19.20% of the stock is currently owned by insiders.

Scholar Rock Company 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.