By otakuyassine3@gmail.com 
Arizona State Retirement System grew its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK – Free Report) by 34.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,033 shares of the company’s stock after acquiring an additional 4,403 shares during the period. Arizona State Retirement System’s holdings in Scholar Rock were worth $736,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in shares of Scholar Rock in the 4th quarter valued at $2,365,000. Victory Capital Management Inc. acquired a new stake in shares of Scholar Rock in the 4th quarter valued at $374,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Scholar Rock by 23.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,409 shares of the company’s stock valued at $26,901,000 after purchasing an additional 119,616 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Scholar Rock by 30.6% in the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock valued at $114,000 after purchasing an additional 620 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted 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 valued at $8,968,000 after purchasing an additional 27,930 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Scholar Rock
In other news, CFO Edward H. Myles sold 12,539 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $554,223.80. Following the transaction, the chief financial officer now owns 148,549 shares in the company, valued at approximately $6,565,865.80. The trade was a 7.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the insider now owns 67,200 shares in the company, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 292,266 shares of company stock worth $10,996,151. 19.20% of the stock is currently owned by company insiders.
Scholar Rock Stock Up 0.1 %
Scholar Rock stock opened at $34.60 on Friday. The firm has a fifty day moving average price of $39.68 and a two-hundred day moving average price of $31.01. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of -14.72 and a beta of 0.59.
Analysts Set New Price Targets
Several research firms recently issued reports on SRRK. Truist Financial lifted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. HC Wainwright boosted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Wedbush reissued an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research report on Wednesday, January 29th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and a consensus price target of $40.43.
Get Our Latest Report on Scholar Rock
Scholar Rock 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.
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