Harvest Investment Services LLC Buys Shares of 9,635 Scholar Rock Holding Co. (NASDAQ:SRRK)

Harvest Investment Services LLC acquired a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,635 shares of the company's stock, valued at approximately $416,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SRRK. Hsbc Holdings PLC purchased a new position in Scholar Rock in the fourth quarter worth $571,000. Rock Springs Capital Management LP acquired a new position in Scholar Rock in the fourth quarter valued at approximately $30,979,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Scholar Rock during the fourth quarter worth $1,038,000. MetLife Investment Management LLC boosted its stake in shares of Scholar Rock by 16.8% during the 4th quarter. MetLife Investment Management LLC now owns 46,667 shares of the company's stock worth $2,017,000 after acquiring an additional 6,701 shares in the last quarter. Finally, Capital World Investors acquired a new stake in Scholar Rock in the fourth quarter valued at approximately $31,203,000. Institutional investors own 91.08% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wedbush reissued an "outperform" rating and set a $50.00 target price 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 MarketBeat.com, Scholar Rock currently has an average rating of "Buy" and an average target price of $42.67.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $31.64 on Wednesday. The business's 50 day moving average price is $32.99 and its 200 day moving average price is $35.60. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -13.46 and a beta of 0.56. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98.

Insiders Place Their Bets

In related news, insider Tracey Sacco sold 6,500 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $33.08, for a total transaction of $215,020.00. Following the completion of the transaction, the insider now owns 71,750 shares of the company's stock, valued at approximately $2,373,490. This trade represents a 8.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mo Qatanani sold 68,510 shares of Scholar Rock stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total value of $2,562,274.00. Following the completion of the sale, the insider now directly owns 111,084 shares of the company's stock, valued at $4,154,541.60. The trade was a 38.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,231 shares of company stock valued at $9,056,086 over the last ninety days. 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.

Want to see what other hedge funds are holding SRRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.