Schroder Investment Management Group Reduces Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Schroder Investment Management Group reduced its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 51.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,665 shares of the company's stock after selling 142,110 shares during the quarter. Schroder Investment Management Group owned about 0.15% of Scholar Rock worth $5,864,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pictet Asset Management Holding SA bought a new position in Scholar Rock in the 4th quarter worth about $8,414,000. Norges Bank purchased a new position in shares of Scholar Rock during the fourth quarter worth about $86,043,000. Loomis Sayles & Co. L P bought a new position in shares of Scholar Rock in the fourth quarter worth approximately $33,567,000. NEOS Investment Management LLC purchased a new stake in Scholar Rock in the fourth quarter valued at approximately $209,000. Finally, Prudential Financial Inc. bought a new stake in Scholar Rock during the fourth quarter valued at approximately $1,946,000. Hedge funds and other institutional investors own 91.08% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a report on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $42.67.

Scholar Rock Price Performance

NASDAQ SRRK traded up $2.59 on Wednesday, reaching $27.06. 2,119,378 shares of the company's stock traded hands, compared to its average volume of 1,206,979. The stock has a market cap of $2.56 billion, a PE ratio of -11.51 and a beta of 0.56. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98. The stock has a 50-day simple moving average of $34.72 and a 200 day simple moving average of $34.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Insider Activity

In other news, insider Tracey Sacco sold 6,500 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $33.08, for a total transaction of $215,020.00. Following the completion of the sale, the insider now owns 71,750 shares of the company's stock, valued at approximately $2,373,490. This represents a 8.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.42, for a total transaction of $34,626.52. Following the completion of the transaction, the director now owns 30,319 shares in the company, valued at $1,043,579.98. This represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 299,772 shares of company stock valued at $11,245,798. Corporate 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.