6 days Ago By ABMN Staff
Alliancebernstein L.P. boosted its holdings in shares of Scholar Rock Holding Co.
( NASDAQ:SRRK – Free Report ) by 39.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,350 shares of the company’s stock after purchasing an additional 22,480 shares during the period.
Alliancebernstein L.P.’s holdings in Scholar Rock were worth $3,430,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Scholar Rock by 763.8% during the 4th quarter.
Wellington Management Group LLP now owns 1,725,622 shares of the company’s stock valued at $74,581,000 after purchasing an additional 1,525,845 shares during the last quarter. Pictet Asset Management Holding SA acquired a new stake in Scholar Rock in the fourth quarter valued at approximately $8,414,000. Norges Bank bought a new stake in shares of Scholar Rock during the fourth quarter worth $86,043,000.
Loomis Sayles & Co. L P acquired a new position in shares of Scholar Rock during the fourth quarter worth $33,567,000. Finally, NEOS Investment Management LLC bought a new position in shares of Scholar Rock in the 4th quarter valued at $209,000.
Institutional investors and hedge funds own 91.08% of the company’s stock. Wall Street Analysts Forecast Growth Separately, Wedbush restated an “outperform” rating and set a $50.
00 price objective 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 MarketBeat, Scholar Rock presently has an average rating of “Buy” and a consensus target price of $42.67.
Insider Transactions at Scholar Rock In related news, CEO Jay T. Backstrom sold 22,308 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.
20, for a total value of $986,013.60. Following the transaction, the chief executive officer now owns 330,363 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink . Also, insider Tracey Sacco sold 6,500 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $33.
08, for a total transaction of $215,020.00. Following the sale, the insider now directly owns 71,750 shares in the company, valued at $2,373,490.
This trade represents a 8.31 % decrease in their position. The disclosure for this sale can be found here .
Insiders sold 299,772 shares of company stock worth $11,245,798 over the last ninety days. 19.20% of the stock is owned by insiders.
Scholar Rock Stock Performance NASDAQ SRRK opened at $28.93 on Tuesday. The company has a market capitalization of $2.
74 billion, a price-to-earnings ratio of -12.31 and a beta of 0.56.
Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.
98. The stock has a fifty day simple moving average of $33.95 and a 200 day simple moving average of $34.
83. The company has a quick ratio of 3.88, a current ratio of 3.
88 and a debt-to-equity ratio of 0.63. About Scholar Rock ( Free Report ) 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. Featured Stories Want to see what other hedge funds are holding SRRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scholar Rock Holding Co.
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