Fmr LLC Acquires 3,439,215 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Fmr LLC raised its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 33.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,635,261 shares of the company’s stock after acquiring an additional 3,439,215 shares during the period. Fmr LLC owned approximately 0.15% of Scholar Rock worth $589,316,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Wells Fargo & Company MN raised its stake in Scholar Rock by 58.7% in the fourth quarter. Wells Fargo & Company MN now owns 38,590 shares of the company’s stock valued at $1,668,000 after purchasing an additional 14,274 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Scholar Rock by 14.7% in the 4th quarter. Geode Capital Management LLC now owns 1,770,324 shares of the company’s stock worth $76,530,000 after buying an additional 227,299 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Scholar Rock by 39.5% during the 4th quarter. Alliancebernstein L.P. now owns 79,350 shares of the company’s stock worth $3,430,000 after acquiring an additional 22,480 shares during the last quarter. Wellington Management Group LLP grew its position in Scholar Rock by 763.8% in the fourth quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company’s stock worth $74,581,000 after acquiring an additional 1,525,845 shares in the last quarter. Finally, Pictet Asset Management Holding SA bought a new position in Scholar Rock in the fourth quarter valued at $8,414,000. Institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush reaffirmed an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a research note on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $42.67.

Scholar Rock Price Performance

SRRK stock opened at $24.47 on Wednesday. The firm has a market cap of $2.32 billion, a P/E ratio of -10.41 and a beta of 0.56. The firm’s fifty day moving average is $35.26 and its 200 day moving average is $34.17. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Tracey Sacco sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the sale, the insider now owns 71,750 shares in the company, valued at approximately $2,373,490. The trade was a 8.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jing L. Marantz sold 5,655 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the sale, the insider now directly owns 67,200 shares of the company’s stock, valued at $2,970,240. The trade was a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 299,772 shares of company stock worth $11,245,798 over the last three months. Company insiders own 19.20% of the company’s stock.

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.