New York State Common Retirement Fund Acquires 12,200 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

New York State Common Retirement Fund increased its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 117.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,586 shares of the company’s stock after purchasing an additional 12,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Scholar Rock were worth $976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Scholar Rock by 16.2% in the third 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 during the period. Charles Schwab Investment Management Inc. increased its position in Scholar Rock by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after purchasing an additional 42,139 shares during the period. Barclays PLC increased its position in Scholar Rock by 103.4% in the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Scholar Rock by 7.1% in 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 purchasing an additional 6,269 shares during the period. Finally, Geode Capital Management LLC increased its position in Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after purchasing an additional 120,489 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Price Performance

Scholar Rock stock opened at $36.23 on Tuesday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average of $41.22 and a 200-day moving average of $29.64. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. The firm has a market capitalization of $3.39 billion, a P/E ratio of -15.42 and a beta of 0.50.

Insider Activity at Scholar Rock

In related news, CFO Edward H. Myles sold 12,539 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $554,223.80. Following the completion of the transaction, the chief financial officer now directly owns 148,549 shares in the company, valued at approximately $6,565,865.80. The trade was a 7.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay T. Backstrom sold 22,308 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the transaction, the chief executive officer now owns 330,363 shares of the company’s stock, valued at $14,602,044.60. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 149,974 shares of company stock worth $5,927,710. 19.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on SRRK shares. Truist Financial lifted their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. HC Wainwright boosted their target price 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, Wedbush restated an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $40.43.

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.