DnB Asset Management AS Sells 8,527 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

DnB Asset Management AS reduced its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 41.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,252 shares of the company’s stock after selling 8,527 shares during the quarter. DnB Asset Management AS’s holdings in Scholar Rock were worth $530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the last quarter. Quarry LP lifted its position in shares of Scholar Rock by 3,443.3% in the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Scholar Rock by 584.7% during 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. Nisa Investment Advisors LLC grew its position in Scholar Rock by 1,321.8% in the fourth 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 in the last quarter. Finally, Amalgamated Bank increased its stake in 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 buying an additional 620 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Stock Up 8.3 %

SRRK opened at $32.54 on Thursday. The stock’s fifty day simple moving average is $36.94 and its 200 day simple moving average is $33.54. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $46.98. The stock has a market cap of $3.08 billion, a PE ratio of -13.85 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.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Jay T. Backstrom sold 22,308 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the transaction, the chief executive officer now owns 330,363 shares of the company’s stock, valued at $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the completion of the transaction, the insider now owns 67,200 shares of the company’s stock, valued at $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is owned by insiders.

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.