E. Ohman J or Asset Management AB Cuts Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

E. Ohman J or Asset Management AB lessened its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 56.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,500 shares of the company's stock after selling 68,500 shares during the period. E. Ohman J or Asset Management AB owned about 0.06% of Scholar Rock worth $2,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SRRK. FMR LLC increased its stake in shares of Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company's stock worth $81,670,000 after purchasing an additional 308,813 shares in the last quarter. Geode Capital Management LLC increased its stake in Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock worth $12,361,000 after buying an additional 120,489 shares in the last quarter. Millennium Management LLC increased its stake in Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company's stock worth $7,710,000 after buying an additional 568,512 shares in the last quarter. abrdn plc raised its holdings in shares of Scholar Rock by 28.2% during the third quarter. abrdn plc now owns 748,489 shares of the company's stock valued at $5,995,000 after acquiring an additional 164,715 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of 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 acquiring an additional 628,186 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company's stock.

Insider Activity

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $38.49, for a total value of $15,759,076.17. Following the sale, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $986,013.60. Following the transaction, the chief executive officer now directly owns 330,363 shares of the company's stock, valued at approximately $14,602,044.60. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 458,974 shares of company stock valued at $17,948,788. 19.20% of the stock is currently owned by company insiders.

Scholar Rock Trading Down 1.9 %

SRRK stock traded down $0.77 during trading on Friday, reaching $39.95. 424,458 shares of the stock were exchanged, compared to its average volume of 927,639. The business has a 50 day moving average price of $42.65 and a 200-day moving average price of $26.39. 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 firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -17.00 and a beta of 0.50.

Wall Street Analysts Forecast Growth

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