Charles Schwab Investment Management Inc. Purchases 119,616 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Charles Schwab Investment Management Inc. grew its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 23.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 622,409 shares of the company’s stock after purchasing an additional 119,616 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Scholar Rock were worth $26,901,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SRRK. Proficio Capital Partners LLC bought a new position in Scholar Rock during the fourth quarter valued at approximately $2,365,000. Amalgamated Bank boosted 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Scholar Rock by 15.6% during 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. Handelsbanken Fonder AB purchased a new position in Scholar Rock in the 4th quarter worth $942,000. Finally, Global Retirement Partners LLC lifted its stake in Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 0.3 %

SRRK stock opened at $34.72 on Tuesday. 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 market capitalization of $3.29 billion, a price-to-earnings ratio of -14.77 and a beta of 0.59. The business’s 50 day moving average price is $39.30 and its two-hundred day moving average price is $31.68. 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 news, CFO Edward H. Myles sold 142,292 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the completion of the transaction, the chief financial officer now directly owns 111,345 shares in the company, valued at $3,966,108.90. This trade represents a 56.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $986,013.60. Following the completion of the transaction, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at $14,602,044.60. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 292,266 shares of company stock valued at $10,996,151. 19.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.