194,668 Shares in Scholar Rock Holding Co. (NASDAQ:SRRK) Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA purchased a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) in the 4th quarter, HoldingsChannel reports. The firm purchased 194,668 shares of the company’s stock, valued at approximately $8,414,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 766 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares during the period. Amalgamated Bank grew its stake in Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares during the period. Finally, KBC Group NV bought a new stake in Scholar Rock in the fourth quarter worth approximately $131,000. Institutional investors own 91.08% of the company’s stock.

Insider Activity at Scholar Rock

In other news, insider Tracey Sacco sold 6,500 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $33.08, for a total transaction of $215,020.00. Following the completion of the sale, the insider now directly owns 71,750 shares of the company’s stock, valued at $2,373,490. The trade was a 8.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jay T. Backstrom sold 22,308 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were 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 in the company, valued at approximately $14,602,044.60. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Scholar Rock Trading Up 8.3 %

Shares of Scholar Rock stock opened at $32.54 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The stock has a 50 day moving average price of $36.94 and a two-hundred day moving average price of $33.54. The stock has a market capitalization of $3.08 billion, a PE ratio of -13.85 and a beta of 0.59.

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.