Jennison Associates LLC Purchases New Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Jennison Associates LLC acquired a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 137,049 shares of the company’s stock, valued at approximately $2,577,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SRRK. Amalgamated Bank increased its stake in shares of Scholar Rock by 52.8% during the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock worth $30,000 after purchasing an additional 1,458 shares during the last quarter. Silverarc Capital Management LLC acquired a new stake in shares of Scholar Rock in the third quarter worth about $69,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Scholar Rock during the 3rd quarter worth about $88,000. SG Americas Securities LLC acquired a new position in shares of Scholar Rock during the 3rd quarter valued at about $153,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Scholar Rock by 479.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock valued at $157,000 after acquiring an additional 6,905 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling

In other Scholar Rock news, General Counsel Junlin Ho sold 3,489 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $54,916.86. Following the sale, the general counsel now owns 208,771 shares of the company’s stock, valued at approximately $3,286,055.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jay T. Backstrom sold 11,614 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $182,804.36. Following the completion of the transaction, the chief executive officer now owns 352,671 shares of the company’s stock, valued at $5,551,041.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $54,916.86. Following the sale, the general counsel now directly owns 208,771 shares in the company, valued at $3,286,055.54. The disclosure for this sale can be found here. Insiders sold a total of 22,359 shares of company stock valued at $351,931 over the last ninety days. 26.20% of the stock is owned by company insiders.

Scholar Rock Price Performance

SRRK stock opened at $14.53 on Friday. Scholar Rock Holding Co. has a twelve month low of $5.56 and a twelve month high of $21.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80. The business’s 50-day simple moving average is $15.33 and its 200 day simple moving average is $14.45.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). Sell-side analysts predict that Scholar Rock Holding Co. will post -2.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a report on Tuesday, March 19th. Raymond James started coverage on shares of Scholar Rock in a report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a report on Tuesday, March 26th. Wedbush reiterated an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a research note on Tuesday, January 23rd. Finally, Truist Financial reissued a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Scholar Rock presently has an average rating of “Buy” and a consensus price target of $25.17.

About Scholar Rock

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.