Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 1,321.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,109 shares of the company’s stock after purchasing an additional 1,031 shares during the period. Nisa Investment Advisors LLC’s holdings in Scholar Rock were worth $48,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Hamilton Lane Advisors LLC acquired a new stake in Scholar Rock during the 4th quarter worth about $1,274,000. GAMMA Investing LLC increased its position in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Scholar Rock by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after acquiring an additional 379 shares during the period. Exome Asset Management LLC purchased a new stake in shares of Scholar Rock in the 3rd quarter valued at approximately $1,115,000. Finally, Barclays PLC boosted its stake in Scholar Rock by 103.4% in the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after purchasing an additional 84,118 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Scholar Rock

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. This represents a 3.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $554,223.80. Following the completion of the transaction, the chief financial officer now owns 148,549 shares in the company, valued at $6,565,865.80. This trade represents a 7.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 458,974 shares of company stock valued at $17,948,788. Insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SRRK. HC Wainwright increased their target price on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Truist Financial increased their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research note on Wednesday. Piper Sandler increased their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets boosted their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $40.43.

Scholar Rock Trading Down 0.0 %

NASDAQ:SRRK opened at $40.38 on Friday. 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 company has a market capitalization of $3.78 billion, a P/E ratio of -17.18 and a beta of 0.52. The stock’s 50 day moving average price is $42.42 and its 200 day moving average price is $25.29. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98.

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.