Boxer Capital Management LLC acquired a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 750,000 shares of the company's stock, valued at approximately $32,415,000. Scholar Rock accounts for 2.7% of Boxer Capital Management LLC's holdings, making the stock its 8th largest holding. Boxer Capital Management LLC owned approximately 0.80% of Scholar Rock at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC grew its position in Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company's stock worth $1,324,000 after buying an additional 84,118 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Scholar Rock by 17.6% during the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock worth $205,013,000 after purchasing an additional 708,817 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Scholar Rock in the fourth quarter worth $274,000. Rhumbline Advisers raised its stake in Scholar Rock by 13.2% in the fourth quarter. Rhumbline Advisers now owns 113,261 shares of the company's stock valued at $4,895,000 after purchasing an additional 13,247 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new stake in Scholar Rock during the fourth quarter worth about $942,000. Institutional investors and hedge funds own 91.08% of the company's stock.
Wall Street Analyst Weigh In
Separately, Wedbush reissued an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a report on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $42.67.
Read Our Latest Analysis on Scholar Rock
Insider Activity
In related news, insider Tracey Sacco sold 6,500 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $33.08, for a total transaction of $215,020.00. Following the sale, the insider now owns 71,750 shares of the company's stock, valued at $2,373,490. This trade represents a 8.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Edward H. Myles sold 142,292 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the sale, the chief financial officer now owns 111,345 shares in the company, valued at $3,966,108.90. This represents a 56.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,231 shares of company stock worth $9,220,236. Corporate insiders own 13.30% of the company's stock.
Scholar Rock Stock Performance
NASDAQ:SRRK opened at $32.76 on Friday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.11 billion, a PE ratio of -13.94 and a beta of 0.56. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The stock's 50-day simple moving average is $32.33 and its 200 day simple moving average is $35.75.
About Scholar Rock
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding SRRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report).
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