Victory Capital Management Inc. Buys Shares of 8,647 Scholar Rock Holding Co. (NASDAQ:SRRK)

Victory Capital Management Inc. bought a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,647 shares of the company’s stock, valued at approximately $374,000.

Several other institutional investors have also recently bought and sold shares of SRRK. Intech Investment Management LLC bought a new stake in Scholar Rock in the 3rd quarter valued at approximately $202,000. Charles Schwab Investment Management Inc. lifted its stake in Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after acquiring an additional 42,139 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Scholar Rock by 593.6% in the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock valued at $5,879,000 after acquiring an additional 628,186 shares in the last quarter. FMR LLC lifted its stake in Scholar Rock by 3.1% in the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company’s stock valued at $81,670,000 after acquiring an additional 308,813 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Scholar Rock by 900.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,331 shares of the company’s stock valued at $291,000 after acquiring an additional 32,700 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SRRK. Truist Financial boosted their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a research report on Monday, March 17th. Finally, HC Wainwright boosted their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $40.86.

Insider Buying and Selling

In related news, CFO Edward H. Myles sold 142,292 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the sale, the chief financial officer now directly owns 111,345 shares in the company, valued at $3,966,108.90. The trade was a 56.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $249,951.00. Following the completion of the sale, the insider now owns 67,200 shares of the company’s stock, valued at $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,272 shares of company stock valued at $11,030,778. 19.20% of the stock is owned by insiders.

Scholar Rock Stock Down 1.8 %

SRRK stock opened at $33.05 on Friday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.13 billion, a PE ratio of -14.06 and a beta of 0.59. 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 $38.74 and its 200 day simple moving average is $32.20.

Scholar Rock Company Profile

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.