Skandinaviska Enskilda Banken AB publ Takes $1.23 Million Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Skandinaviska Enskilda Banken AB publ bought a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 28,599 shares of the company’s stock, valued at approximately $1,227,000.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after acquiring an additional 269 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 valued at $310,000 after purchasing an additional 379 shares in the last quarter. Amalgamated Bank lifted its position in Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares during the period. Global Retirement Partners LLC increased its holdings 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 buying an additional 766 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after buying an additional 1,031 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SRRK shares. Wedbush reissued an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Monday. Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, HC Wainwright increased their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Scholar Rock presently has a consensus rating of “Buy” and a consensus price target of $40.86.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $34.72 on Tuesday. The stock has a market capitalization of $3.29 billion, a P/E ratio of -14.77 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 firm has a 50 day moving average of $39.30 and a 200-day moving average of $31.68. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Transactions at Scholar Rock

In other Scholar Rock news, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the sale, the chief executive officer now owns 330,363 shares of the company’s stock, valued at $14,602,044.60. This represents a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction dated 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 directly owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. This represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 292,266 shares of company stock worth $10,996,151. Insiders own 19.20% of the company’s stock.

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.