Victory Capital Management Inc. Takes Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Victory Capital Management Inc. bought a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,647 shares of the company’s stock, valued at approximately $374,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after buying an additional 269 shares in the last quarter. Global Retirement Partners LLC increased 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 period. Nisa Investment Advisors LLC increased its position in Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares during the period. Amalgamated Bank increased its position in Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares during the period. Finally, KBC Group NV acquired a new stake in Scholar Rock in the fourth quarter worth about $131,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 142,292 shares of Scholar Rock stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the transaction, the chief financial officer now owns 111,345 shares in the company, valued at $3,966,108.90. The trade was a 56.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katie Peng sold 1,006 shares of Scholar Rock stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the transaction, the director now 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. Over the last quarter, insiders have sold 293,272 shares of company stock worth $11,030,778. Insiders own 19.20% of the company’s stock.

Scholar Rock Price Performance

Shares of SRRK opened at $33.05 on Friday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. The stock has a market cap of $3.13 billion, a P/E ratio of -14.06 and a beta of 0.59. The stock’s 50-day moving average price is $38.74 and its two-hundred day moving average price is $32.20.

Analyst Ratings Changes

A number of brokerages recently commented on SRRK. Wedbush reiterated an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a research report on Monday, March 17th. 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. Finally, HC Wainwright lifted their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and a consensus price target of $40.86.

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.