Skandinaviska Enskilda Banken AB publ bought a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 28,599 shares of the company's stock, valued at approximately $1,227,000.
Other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Scholar Rock by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company's stock valued at $1,600,000 after purchasing an additional 27,801 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Scholar Rock by 9.1% in 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. Barclays PLC increased its position in shares of Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company's stock worth $1,324,000 after acquiring an additional 84,118 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Scholar Rock by 7.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company's stock worth $759,000 after acquiring an additional 6,269 shares during the period. Finally, Geode Capital Management LLC lifted its position in Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock valued at $12,361,000 after acquiring an additional 120,489 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
SRRK has been the subject of a number of research reports. Wedbush reissued an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Monday. HC Wainwright upped their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Truist Financial lifted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $40.86.
Check Out Our Latest Research Report on SRRK
Scholar Rock Stock Down 1.8 %
Shares of NASDAQ:SRRK traded down $0.59 during midday trading on Friday, hitting $33.05. The stock had a trading volume of 2,661,052 shares, compared to its average volume of 1,152,080. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The business's 50-day simple moving average is $38.89 and its 200-day simple moving average is $31.88. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98. The company has a market cap of $3.13 billion, a P/E ratio of -14.06 and a beta of 0.59.
Insider Activity
In related news, Director Katie Peng sold 1,006 shares of the business'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 transaction, the director now directly owns 30,319 shares of the company's stock, valued at approximately $1,043,579.98. The trade was a 3.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the completion of the transaction, the chief executive officer now directly owns 330,363 shares in the company, valued at $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,272 shares of company stock valued at $11,030,778 in the last quarter. Company insiders own 19.20% of the company's stock.
About Scholar Rock
(
Free Report)
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.
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