Scholar Rock Holding Co. (NASDAQ:SRRK) Stock Position Lowered by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 24.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 554,737 shares of the company’s stock after selling 179,282 shares during the period. Fisher Asset Management LLC’s holdings in Scholar Rock were worth $23,976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC raised its stake in shares of Scholar Rock by 3.1% in the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after buying an additional 308,813 shares in the last quarter. Geode Capital Management LLC raised 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 worth $12,361,000 after buying an additional 120,489 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after buying an additional 42,139 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Scholar Rock by 15.6% in the 4th quarter. Bank of New York Mellon Corp now owns 207,492 shares of the company’s stock worth $8,968,000 after buying an additional 27,930 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Scholar Rock by 16.2% in 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 during the last quarter. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Down 6.7 %

NASDAQ:SRRK opened at $36.23 on Tuesday. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -15.42 and a beta of 0.50. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $46.98. 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 business’s fifty day moving average price is $41.22 and its 200 day moving average price is $29.64.

Insider Activity at Scholar Rock

In related news, CEO Jay T. Backstrom sold 22,308 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $986,013.60. Following the transaction, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at approximately $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mo Qatanani sold 68,510 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total value of $2,562,274.00. Following the transaction, the insider now directly owns 111,084 shares in the company, valued at $4,154,541.60. The trade was a 38.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,974 shares of company stock valued at $5,927,710. Company insiders own 19.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial lifted their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. HC Wainwright lifted 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. Finally, Wedbush restated an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $40.43.

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.