Global Retirement Partners LLC Boosts Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Global Retirement Partners LLC raised its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 584.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 897 shares of the company’s stock after buying an additional 766 shares during the quarter. Global Retirement Partners LLC’s holdings in Scholar Rock were worth $39,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in Scholar Rock by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after acquiring an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Scholar Rock by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after purchasing an additional 42,139 shares in the last quarter. Barclays PLC lifted its holdings in shares of 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 buying an additional 84,118 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Scholar Rock by 7.1% in 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 period. Finally, Geode Capital Management LLC lifted its holdings in shares of Scholar Rock by 8.5% during the third 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. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

SRRK has been the topic of several recent analyst reports. HC Wainwright upped their price target on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wedbush reissued an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a report on Wednesday, January 29th. Finally, Truist Financial increased their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Scholar Rock presently has a consensus rating of “Buy” and an average target price of $40.43.

Insiders Place Their Bets

In related news, insider Jing L. Marantz sold 5,655 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the completion of the transaction, the insider now owns 67,200 shares in the company, valued at $2,970,240. This trade represents a 7.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay T. Backstrom sold 18,372 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were 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 of the company’s stock, valued at $11,490,628.53. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 149,974 shares of company stock worth $5,927,710. 19.20% of the stock is currently owned by company insiders.

Scholar Rock Price Performance

Shares of SRRK stock opened at $38.82 on Friday. The stock has a 50 day moving average of $41.22 and a two-hundred day moving average of $29.50. 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. The company has a market capitalization of $3.63 billion, a P/E ratio of -16.52 and a beta of 0.50.

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.