Northern Trust Corp Acquires 125,904 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Northern Trust Corp lifted its stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 20.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 746,527 shares of the company's stock after acquiring an additional 125,904 shares during the period. Northern Trust Corp owned approximately 0.80% of Scholar Rock worth $32,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SRRK. GAMMA Investing LLC lifted its holdings in shares of Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock valued at $34,000 after acquiring an additional 269 shares during the period. JPMorgan Chase & Co. grew its position in shares of Scholar Rock by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company's stock worth $310,000 after buying an additional 379 shares during the period. Amalgamated Bank grew its position in shares of Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after buying an additional 620 shares during the period. Global Retirement Partners LLC lifted its stake in Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock valued at $39,000 after acquiring an additional 766 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Scholar Rock by 1,321.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 91.08% of the company's stock.

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 Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company 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, insider Mo Qatanani sold 68,510 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the transaction, the insider now directly owns 111,084 shares in the company, valued at approximately $4,154,541.60. This represents a 38.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the sale, the director now owns 30,319 shares of the company's stock, valued at $1,043,579.98. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,231 shares of company stock valued at $9,220,236. Company insiders own 13.30% of the company's stock.

Scholar Rock Trading Down 2.1%

SRRK stock traded down $0.64 during mid-day trading on Friday, reaching $30.19. The company's stock had a trading volume of 179,895 shares, compared to its average volume of 1,268,562. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -12.84 and a beta of 0.37. The business's 50 day moving average price is $31.26 and its 200 day moving average price is $35.87. 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 12 month low of $6.76 and a 12 month high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). On average, equities research analysts predict that Scholar Rock Holding Co. will post -2.42 EPS for the current 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.