Fmr LLC Increases Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

FMR LLC boosted its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 33.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,635,261 shares of the company's stock after purchasing an additional 3,439,215 shares during the quarter. FMR LLC owned about 14.57% of Scholar Rock worth $589,316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in Scholar Rock by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock valued at $4,027,000 after purchasing an additional 42,139 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Scholar Rock by 900.6% in the third quarter. BNP Paribas Financial Markets now owns 36,331 shares of the company's stock valued at $291,000 after purchasing an additional 32,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Scholar Rock by 7.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company's stock valued at $759,000 after buying an additional 6,269 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Scholar Rock by 249.7% during the third quarter. Point72 Asset Management L.P. now owns 28,649 shares of the company's stock worth $229,000 after buying an additional 20,456 shares in the last quarter. Finally, Quarry LP raised its position in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company's stock valued at $36,000 after buying an additional 4,373 shares during the last quarter. Institutional investors own 91.08% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an "outperform" rating and issued 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, the stock currently has a consensus rating of "Buy" and an average price target of $42.67.

Scholar Rock Stock Performance

NASDAQ SRRK traded up $1.31 during trading hours on Monday, reaching $29.31. 358,362 shares of the company were exchanged, compared to its average volume of 1,215,329. The stock has a market capitalization of $2.77 billion, a P/E ratio of -12.47 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 1 year low of $6.76 and a 1 year high of $46.98. The business's 50 day simple moving average is $34.21 and its 200-day simple moving average is $34.69.

Insider Buying and Selling

In other Scholar Rock 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 value of $215,020.00. Following the completion of the sale, the insider now directly owns 71,750 shares of the company's stock, valued at $2,373,490. This trade represents a 8.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction on 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is owned by company 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.