Charles Schwab Investment Management Inc. Purchases 119,616 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Charles Schwab Investment Management Inc. lifted its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 23.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 622,409 shares of the company’s stock after purchasing an additional 119,616 shares during the period. Charles Schwab Investment Management Inc. owned 0.66% of Scholar Rock worth $26,901,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SRRK. Proficio Capital Partners LLC bought a new position in shares of Scholar Rock during the 4th quarter worth approximately $2,365,000. Amalgamated Bank increased its position in shares of Scholar Rock by 30.6% during 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 last quarter. Bank of New York Mellon Corp increased its position in shares of Scholar Rock by 15.6% during the fourth quarter. Bank of New York Mellon Corp now owns 207,492 shares of the company’s stock valued at $8,968,000 after acquiring an additional 27,930 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in Scholar Rock during the fourth quarter worth $942,000. Finally, Global Retirement Partners LLC boosted its position in Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SRRK has been the subject of several research analyst reports. Truist Financial raised their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a research report on Monday. Finally, HC Wainwright boosted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.86.

Insiders Place Their Bets

In related news, General Counsel Junlin Ho sold 5,742 shares of Scholar Rock stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $211,477.86. Following the completion of the sale, the general counsel now owns 189,295 shares of the company’s stock, valued at approximately $6,971,734.85. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 142,292 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the transaction, the chief financial officer now owns 111,345 shares in the company, valued at $3,966,108.90. This represents a 56.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 292,266 shares of company stock worth $10,996,151 in the last quarter. 19.20% of the stock is owned by company insiders.

Scholar Rock Trading Up 0.3 %

NASDAQ:SRRK opened at $34.72 on Tuesday. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. The stock’s fifty day moving average price is $39.30 and its two-hundred day moving average price is $31.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The company has a market cap of $3.29 billion, a P/E ratio of -14.77 and a beta of 0.59.

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.