Vanguard Group Inc. Acquires 708,817 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Vanguard Group Inc. lifted its stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 17.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,743,482 shares of the company's stock after purchasing an additional 708,817 shares during the quarter. Vanguard Group Inc. owned 5.07% of Scholar Rock worth $205,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SRRK. Geode Capital Management LLC grew its holdings in shares of Scholar Rock by 8.5% during 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. American Century Companies Inc. acquired a new stake in Scholar Rock during the fourth quarter valued at $28,394,000. Charles Schwab Investment Management Inc. grew its stake in Scholar Rock by 23.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,409 shares of the company's stock valued at $26,901,000 after purchasing an additional 119,616 shares in the last quarter. Bank of New York Mellon Corp increased its position in Scholar Rock by 15.6% in the 4th quarter. Bank of New York Mellon Corp now owns 207,492 shares of the company's stock worth $8,968,000 after purchasing an additional 27,930 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Scholar Rock by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company's stock worth $1,600,000 after purchasing an additional 27,801 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the sale, the director now owns 30,319 shares of the company's stock, valued at $1,043,579.98. The trade was a 3.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tracey Sacco sold 6,500 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $33.08, for a total transaction of $215,020.00. Following the transaction, the insider now directly owns 71,750 shares of the company's stock, valued at $2,373,490. The trade was a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 299,772 shares of company stock valued at $11,245,798 in the last quarter. Corporate insiders own 19.20% of the company's stock.

Scholar Rock Stock Performance

SRRK traded down $0.86 during midday trading on Monday, reaching $26.04. The company's stock had a trading volume of 1,686,120 shares, compared to its average volume of 1,195,882. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The stock has a market cap of $2.47 billion, a P/E ratio of -11.08 and a beta of 0.56. The company has a fifty day simple moving average of $35.98 and a 200 day simple moving average of $34.14. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Analysts Set New Price Targets

Separately, Wedbush restated an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $42.67.

About Scholar Rock

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.