Fisher Asset Management LLC Reduces Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Fisher Asset Management LLC cut its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 24.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 554,737 shares of the company's stock after selling 179,282 shares during the quarter. Fisher Asset Management LLC owned 0.59% of Scholar Rock worth $23,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock valued at $34,000 after purchasing an additional 269 shares during the period. Global Retirement Partners LLC raised its holdings in 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 buying an additional 766 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock valued at $48,000 after buying an additional 1,031 shares during the period. Amalgamated Bank grew its holdings in Scholar Rock by 30.6% in the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after acquiring an additional 620 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock valued at $25,000 after acquiring an additional 514 shares during the period. 91.08% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

SRRK has been the topic of several recent analyst reports. HC Wainwright raised their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Wedbush reiterated an "outperform" rating and issued a $47.00 price objective on shares of Scholar Rock in a research report on Wednesday, January 29th. Finally, Truist Financial upped their target price on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $40.43.

Scholar Rock Stock Down 0.4 %

Shares of NASDAQ SRRK traded down $0.13 during mid-day trading on Friday, hitting $36.00. 1,174,748 shares of the stock traded hands, compared to its average volume of 1,161,909. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. 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 stock has a fifty day moving average price of $40.51 and a 200-day moving average price of $30.11. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -15.32 and a beta of 0.59.

Insider Buying and Selling at Scholar Rock

In other news, insider Mo Qatanani sold 68,510 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the sale, the insider now owns 111,084 shares of the company's stock, valued at $4,154,541.60. This trade represents a 38.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Edward H. Myles sold 7,809 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $287,605.47. Following the completion of the sale, the chief financial officer now owns 140,740 shares in the company, valued at $5,183,454.20. This represents a 5.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 149,974 shares of company stock valued at $5,927,710. Corporate insiders own 19.20% of the company's stock.

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.