Nuveen Asset Management LLC Has $13.16 Million Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Nuveen Asset Management LLC grew its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 67.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 304,548 shares of the company's stock after buying an additional 122,638 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.33% of Scholar Rock worth $13,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in shares of Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock worth $48,000 after purchasing an additional 1,031 shares during the period. Amalgamated Bank lifted its holdings in shares of Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after purchasing an additional 620 shares during the period. KBC Group NV acquired a new position in shares of Scholar Rock during the fourth quarter worth $131,000. Finally, NEOS Investment Management LLC acquired a new position in shares of Scholar Rock during the fourth quarter worth $209,000. Institutional investors own 91.08% of the company's stock.

Insider Activity at Scholar Rock

In other news, Director Katie Peng sold 1,006 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.42, for a total transaction of $34,626.52. Following the transaction, the director now owns 30,319 shares in the company, valued at approximately $1,043,579.98. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward H. Myles sold 142,292 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $35.62, for a total transaction 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 represents a 56.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,798 shares of company stock worth $6,284,738 over the last quarter. Company insiders own 13.30% of the company's stock.

Analysts Set New Price Targets

Separately, Wedbush reiterated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a report on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $42.67.

Scholar Rock Trading Down 2.4%

SRRK stock traded down $0.71 during midday trading on Friday, hitting $29.13. The stock had a trading volume of 1,368,000 shares, compared to its average volume of 1,270,036. The firm has a market cap of $2.77 billion, a P/E ratio of -12.40 and a beta of 0.37. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $46.98. The business has a fifty day moving average price of $30.38 and a two-hundred day moving average price of $35.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same quarter last year, the business posted ($0.59) EPS. On average, sell-side analysts predict that Scholar Rock Holding Co. will post -2.42 earnings per share for the current fiscal year.

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.