Victory Capital Management Inc. Invests $374,000 in Scholar Rock Holding Co. (NASDAQ:SRRK)

Victory Capital Management Inc. acquired a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,647 shares of the company's stock, valued at approximately $374,000.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Scholar Rock by 23.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,409 shares of the company's stock worth $26,901,000 after buying an additional 119,616 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Scholar Rock during the 4th quarter valued at about $2,365,000. Amalgamated Bank increased its stake in Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after acquiring an additional 620 shares during the period. Bank of New York Mellon Corp raised its position in Scholar Rock by 15.6% in the fourth 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 in the last quarter. Finally, Handelsbanken Fonder AB bought a new position in Scholar Rock during the fourth quarter worth about $942,000. Institutional investors own 91.08% of the company's stock.

Scholar Rock Stock Down 3.4 %

Shares of SRRK stock traded down $1.12 on Wednesday, hitting $32.16. 1,186,159 shares of the stock were exchanged, compared to its average volume of 1,149,896. The business has a 50-day moving average of $38.40 and a 200 day moving average of $32.72. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The firm has a market capitalization of $3.04 billion, a P/E ratio of -13.69 and a beta of 0.59. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SRRK shares. Wedbush reissued an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a report on Tuesday. HC Wainwright lifted their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Scholar Rock currently has an average rating of "Buy" and an average price target of $40.86.

Insider Transactions at Scholar Rock

In related 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 transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $34,626.52. Following the transaction, the director now directly owns 30,319 shares in the company, valued at $1,043,579.98. This trade represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 299,772 shares of company stock valued at $11,245,798 over the last 90 days. 19.20% of the stock is owned by corporate insiders.

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.