CANADA LIFE ASSURANCE Co Buys 13,111 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

CANADA LIFE ASSURANCE Co raised its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 347.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,888 shares of the company's stock after buying an additional 13,111 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Scholar Rock were worth $729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP boosted its stake in shares of Scholar Rock by 1,283.7% during the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock worth $127,301,000 after acquiring an additional 2,732,546 shares during the last quarter. EAM Investors LLC bought a new stake in Scholar Rock during the fourth quarter valued at about $5,958,000. Jump Financial LLC purchased a new stake in Scholar Rock in the fourth quarter worth about $3,246,000. Guggenheim Capital LLC bought a new position in shares of Scholar Rock in the fourth quarter worth about $322,000. Finally, Summit Investment Advisors Inc. raised its stake in shares of Scholar Rock by 16.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company's stock worth $350,000 after buying an additional 1,170 shares during the period. 91.08% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Jay T. Backstrom sold 18,372 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total value of $676,640.76. Following the sale, the chief executive officer now directly owns 311,991 shares in the company, valued at approximately $11,490,628.53. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward H. Myles sold 142,292 shares of Scholar Rock stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 111,345 shares in the company, valued at approximately $3,966,108.90. The trade was a 56.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,231 shares of company stock worth $9,220,236 over the last quarter. Insiders own 13.30% of the company's stock.

Scholar Rock Price Performance

SRRK traded up $0.15 on Friday, hitting $32.91. 1,339,190 shares of the company's stock traded hands, compared to its average volume of 1,258,816. Scholar Rock Holding Co. has a one year low of $6.76 and a one year 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 firm has a market cap of $3.12 billion, a price-to-earnings ratio of -14.00 and a beta of 0.56. The company's 50 day simple moving average is $32.26 and its 200-day simple moving average is $35.78.

Analyst Ratings Changes

Separately, Wedbush restated an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research note on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Scholar Rock has an average rating of "Buy" and a consensus target price of $42.67.

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.