Swiss National Bank Grows Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

Swiss National Bank grew its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 37.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,400 shares of the company’s stock after acquiring an additional 31,200 shares during the quarter. Swiss National Bank’s holdings in Scholar Rock were worth $4,988,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. FMR LLC raised its holdings in Scholar Rock by 3.1% in the third 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after acquiring an additional 120,489 shares in the last quarter. Fisher Asset Management LLC lifted its position in Scholar Rock by 593.6% in the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock valued at $5,879,000 after acquiring an additional 628,186 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 acquiring an additional 119,616 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 purchasing an additional 27,930 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SRRK shares. Wedbush reaffirmed an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a report on Monday, March 17th. HC Wainwright raised their price target 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, Truist Financial boosted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $40.86.

Scholar Rock Stock Performance

SRRK opened at $33.81 on Tuesday. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -14.39 and a beta of 0.59. 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 company’s 50 day moving average is $38.56 and its 200 day moving average is $32.55.

Insider Transactions at Scholar Rock

In other news, insider Jing L. Marantz sold 5,655 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 $249,951.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.42, for a total transaction of $34,626.52. Following the completion of the sale, the director now directly owns 30,319 shares of the company’s stock, valued at $1,043,579.98. This represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,272 shares of company stock worth $11,030,778 in the last 90 days. 19.20% of the stock is currently owned by insiders.

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.