Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 117.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,586 shares of the company's stock after acquiring an additional 12,200 shares during the period. New York State Common Retirement Fund's holdings in Scholar Rock were worth $976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning purchased a new position in Scholar Rock during the third quarter valued at approximately $115,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock valued at $25,000 after purchasing an additional 514 shares during the period. Intech Investment Management LLC purchased a new stake in Scholar Rock during the third quarter worth $202,000. Charles Schwab Investment Management Inc. grew its position 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 valued at $4,027,000 after buying an additional 42,139 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Scholar Rock by 593.6% in the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company's stock valued at $5,879,000 after buying an additional 628,186 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Remove Ads

Scholar Rock Trading Up 2.2 %

SRRK stock traded up $0.79 during midday trading on Friday, hitting $36.92. 331,385 shares of the company's stock were exchanged, compared to its average volume of 1,158,583. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $46.98. 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 stock has a market capitalization of $3.50 billion, a PE ratio of -15.71 and a beta of 0.59. The business has a 50-day simple moving average of $40.51 and a two-hundred day simple moving average of $30.11.

Insider Activity at Scholar Rock

In other Scholar Rock news, insider Jing L. Marantz sold 5,655 shares of the company's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the transaction, the insider now directly owns 67,200 shares in the company, valued at $2,970,240. This represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the completion of the sale, the chief financial officer now directly owns 148,549 shares of the company's stock, valued at $6,565,865.80. The trade was a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 149,974 shares of company stock worth $5,927,710. Company insiders own 19.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SRRK. Truist Financial upped 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. Wedbush reaffirmed an "outperform" rating and set a $47.00 target price on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, HC Wainwright boosted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $40.43.

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.