Charles Schwab Investment Management Inc. Grows Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

Charles Schwab Investment Management Inc. increased its stake in Scholar Rock Holding Co. (NASDAQ:SRRK) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,793 shares of the company’s stock after acquiring an additional 42,139 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Scholar Rock were worth $4,027,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC bought a new stake in shares of Scholar Rock during the second quarter valued at approximately $6,223,000. SG Americas Securities LLC bought a new stake in shares of Scholar Rock during the third quarter valued at approximately $1,093,000. Exchange Traded Concepts LLC raised its stake in shares of Scholar Rock by 74.6% during the third quarter. Exchange Traded Concepts LLC now owns 101,679 shares of the company’s stock valued at $814,000 after acquiring an additional 43,457 shares in the last quarter. Marshall Wace LLP raised its stake in Scholar Rock by 1,051.3% in the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after buying an additional 444,961 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Scholar Rock in the third quarter worth approximately $202,000. Institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

SRRK has been the topic of several analyst reports. Wedbush lifted their price target on shares of Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Truist Financial lifted their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. BMO Capital Markets lifted their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. HC Wainwright boosted their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.43.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the completion of the transaction, the director now owns 5,612,896 shares in the company, valued at approximately $164,177,208. This represents a 17.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the transaction, the insider now owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,823,322 shares of company stock worth $56,411,627 over the last three months. Company insiders own 19.20% of the company’s stock.

Scholar Rock Trading Up 0.8 %

NASDAQ SRRK opened at $41.98 on Friday. The company has a market capitalization of $3.93 billion, a PE ratio of -17.86 and a beta of 0.58. The company has a fifty day moving average of $32.25 and a 200 day moving average of $16.93. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.19. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

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.