Voya Investment Management LLC Acquires 113,376 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Voya Investment Management LLC boosted its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 250.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,610 shares of the company's stock after acquiring an additional 113,376 shares during the quarter. Voya Investment Management LLC owned 0.17% of Scholar Rock worth $6,855,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock valued at $12,361,000 after purchasing an additional 120,489 shares during the last quarter. Barclays PLC grew its position in Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company's stock valued at $1,324,000 after acquiring an additional 84,118 shares during the last quarter. Exome Asset Management LLC acquired a new position in Scholar Rock during the third quarter worth about $1,115,000. JPMorgan Chase & Co. lifted its holdings in shares of Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company's stock worth $310,000 after acquiring an additional 379 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock worth $34,000 after acquiring an additional 269 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated an "outperform" rating and set a $50.00 price objective 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.com, the stock presently has a consensus rating of "Buy" and an average price target of $42.67.

Insider Buying and Selling at Scholar Rock

In other news, General Counsel Junlin Ho sold 5,742 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total value of $211,477.86. Following the completion of the sale, the general counsel now owns 189,295 shares of the company's stock, valued at approximately $6,971,734.85. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 7,809 shares of Scholar Rock stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total value of $287,605.47. Following the completion of the transaction, the chief financial officer now directly owns 140,740 shares in the company, valued at approximately $5,183,454.20. This represents a 5.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,231 shares of company stock worth $9,220,236. 13.30% of the stock is currently owned by company insiders.

Scholar Rock Trading Up 0.5 %

NASDAQ SRRK traded up $0.15 during trading hours on Friday, reaching $32.91. The company's stock had a trading volume of 1,339,190 shares, compared to its average volume of 1,260,274. The firm has a fifty day simple moving average of $32.26 and a 200-day simple moving average of $35.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The stock has a market cap of $3.12 billion, a P/E ratio of -14.00 and a beta of 0.37.

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.