Prudential Financial Inc. Acquires New Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Prudential Financial Inc. bought a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 45,020 shares of the company’s stock, valued at approximately $1,946,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in Scholar Rock by 16.2% during the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after buying an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after acquiring an additional 42,139 shares during the last quarter. Barclays PLC raised its holdings in shares of Scholar Rock by 103.4% during the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after acquiring an additional 84,118 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Scholar Rock by 7.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock valued at $759,000 after acquiring an additional 6,269 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after purchasing an additional 120,489 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Stock Down 12.4 %

Shares of NASDAQ:SRRK opened at $26.90 on Friday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -11.45 and a beta of 0.56. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The business has a 50-day moving average price of $36.31 and a 200 day moving average price of $33.65. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Scholar Rock

In related news, CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the completion of the sale, the chief financial officer now owns 148,549 shares in the company, valued at approximately $6,565,865.80. This trade represents a 7.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mo Qatanani sold 68,510 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total value of $2,562,274.00. Following the transaction, the insider now owns 111,084 shares in the company, valued at $4,154,541.60. This trade represents a 38.15 % decrease in their ownership of the stock. 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. 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.