Corebridge Financial Inc. Buys 1,915 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Corebridge Financial Inc. lifted its stake in Scholar Rock Holding Co. (NASDAQ:SRRK) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,539 shares of the company’s stock after acquiring an additional 1,915 shares during the quarter. Corebridge Financial Inc.’s holdings in Scholar Rock were worth $1,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SRRK. FMR LLC grew its position in Scholar Rock by 3.1% in the 3rd 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 period. Vanguard Group Inc. grew its holdings in shares of Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock worth $205,013,000 after acquiring an additional 708,817 shares during the period. Geode Capital Management LLC increased its position in Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after acquiring an additional 120,489 shares during the last quarter. American Century Companies Inc. bought a new position in Scholar Rock in the fourth quarter valued at about $28,394,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Scholar Rock by 23.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,409 shares of the company’s stock valued at $26,901,000 after purchasing an additional 119,616 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 8.3 %

NASDAQ SRRK opened at $32.54 on Thursday. The stock’s 50-day moving average price is $36.94 and its 200-day moving average price is $33.54. The company has a market capitalization of $3.08 billion, a P/E ratio of -13.85 and a beta of 0.59. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98.

Insiders Place Their Bets

In other Scholar Rock news, insider Jing L. Marantz sold 5,655 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the sale, the insider now directly owns 67,200 shares of the company’s stock, valued at $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tracey Sacco sold 6,500 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the transaction, the insider now directly owns 71,750 shares of the company’s stock, valued at approximately $2,373,490. This trade represents a 8.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 299,772 shares of company stock worth $11,245,798. Company insiders own 19.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $42.67.

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.