Skandinaviska Enskilda Banken AB publ Buys Shares of 28,599 Scholar Rock Holding Co. (NASDAQ:SRRK)

Skandinaviska Enskilda Banken AB publ bought a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,599 shares of the company’s stock, valued at approximately $1,227,000.

A number of other institutional investors and hedge funds have also modified their holdings of SRRK. FMR LLC boosted its position in Scholar Rock by 3.1% during the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after acquiring an additional 308,813 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Scholar Rock by 8.5% during 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. Fisher Asset Management LLC grew its position in Scholar Rock by 593.6% during the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock valued at $5,879,000 after purchasing an additional 628,186 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Scholar Rock by 23.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,409 shares of the company’s stock valued at $26,901,000 after buying an additional 119,616 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Scholar Rock by 15.6% in the 4th quarter. Bank of New York Mellon Corp now owns 207,492 shares of the company’s stock worth $8,968,000 after buying an additional 27,930 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Insider Activity

In related news, CFO Edward H. Myles sold 142,292 shares of Scholar Rock stock in a transaction on Monday, March 10th. The shares were sold at an average price of $35.62, for a total value 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. This trade represents a 56.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jay T. Backstrom sold 18,372 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $676,640.76. Following the completion of the sale, the chief executive officer now directly owns 311,991 shares in the company, valued at approximately $11,490,628.53. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 292,266 shares of company stock valued at $10,996,151 over the last 90 days. 19.20% of the stock is currently owned by company insiders.

Scholar Rock Stock Up 0.3 %

Shares of SRRK stock opened at $34.72 on Tuesday. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -14.77 and a beta of 0.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The stock’s 50 day simple moving average is $39.30 and its 200 day simple moving average is $31.68. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98.

Analyst Ratings Changes

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

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.