Alliancebernstein L.P. Acquires 22,480 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Alliancebernstein L.P. lifted its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 39.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,350 shares of the company's stock after purchasing an additional 22,480 shares during the period. Alliancebernstein L.P. owned 0.08% of Scholar Rock worth $3,430,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SRRK. Norges Bank bought a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $86,043,000. Wellington Management Group LLP lifted its position in shares of Scholar Rock by 763.8% during the fourth quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company's stock worth $74,581,000 after purchasing an additional 1,525,845 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Scholar Rock in the 4th quarter valued at $33,567,000. Vanguard Group Inc. boosted its holdings in Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after acquiring an additional 708,817 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Scholar Rock during the 4th quarter worth approximately $28,394,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Analysts Set New Price Targets

Separately, Wedbush reiterated an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research report on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Scholar Rock has an average rating of "Buy" and a consensus price target of $42.67.

Scholar Rock Price Performance

Shares of SRRK traded up $0.95 during trading hours on Friday, hitting $30.71. 923,613 shares of the company were exchanged, compared to its average volume of 1,237,191. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -13.07 and a beta of 0.56. 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 fifty-two week low of $6.76 and a fifty-two week high of $46.98. The firm's fifty day moving average is $33.26 and its 200 day moving average is $35.27.

Insiders Place Their Bets

In other news, Director Katie Peng sold 1,006 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.42, for a total value of $34,626.52. Following the transaction, the director now directly owns 30,319 shares of the company's stock, valued at $1,043,579.98. The trade was a 3.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tracey Sacco sold 6,500 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $33.08, for a total transaction of $215,020.00. Following the transaction, the insider now directly owns 71,750 shares in the company, valued at $2,373,490. This trade represents a 8.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,231 shares of company stock valued at $9,056,086. 19.20% of the stock is currently owned by corporate insiders.

About Scholar Rock

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.