Swiss National Bank Boosts Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Swiss National Bank lifted its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 37.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,400 shares of the company’s stock after buying an additional 31,200 shares during the period. Swiss National Bank owned about 0.12% of Scholar Rock worth $4,988,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SRRK. Fisher Asset Management LLC lifted its holdings in shares of Scholar Rock by 593.6% in the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock worth $5,879,000 after acquiring an additional 628,186 shares during the last quarter. FMR LLC lifted its stake in Scholar Rock by 3.1% in the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after purchasing an additional 308,813 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in Scholar Rock during the third quarter valued at about $1,337,000. Exome Asset Management LLC bought a new position in shares of Scholar Rock during the third quarter valued at about $1,115,000. Finally, Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 120,489 shares during the period. Institutional investors own 91.08% of the company’s stock.

Insider Activity at Scholar Rock

In other news, CFO Edward H. Myles sold 12,539 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the sale, the chief financial officer now directly owns 148,549 shares of the company’s stock, valued at $6,565,865.80. This represents a 7.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jing L. Marantz sold 5,655 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the transaction, the insider now directly owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,272 shares of company stock worth $11,030,778 over the last 90 days. 19.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SRRK has been the subject of several analyst reports. Wedbush restated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a report on Monday, March 17th. Truist Financial raised their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright upped their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six 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, the company has an average rating of “Buy” and a consensus price target of $40.86.

Scholar Rock Stock Up 2.3 %

Shares of Scholar Rock stock opened at $33.81 on Tuesday. The company’s fifty day simple moving average is $38.56 and its two-hundred day simple moving average is $32.55. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. 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 company has a market cap of $3.20 billion, a P/E ratio of -14.39 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.