Arizona State Retirement System Acquires 4,403 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Arizona State Retirement System boosted its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 34.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,033 shares of the company’s stock after purchasing an additional 4,403 shares during the period. Arizona State Retirement System’s holdings in Scholar Rock were worth $736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SRRK. Fisher Asset Management LLC increased its stake in Scholar Rock by 593.6% in the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock valued at $5,879,000 after acquiring an additional 628,186 shares during the period. FMR LLC increased its stake in Scholar Rock by 3.1% in the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock valued at $81,670,000 after acquiring an additional 308,813 shares during the period. Sphera Funds Management LTD. bought a new stake in Scholar Rock in the third quarter valued at about $1,337,000. Exome Asset Management LLC bought a new stake in Scholar Rock during the third quarter worth about $1,115,000. Finally, Geode Capital Management LLC grew its stake in Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after buying an additional 120,489 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Insider Transactions at Scholar Rock

In related news, CFO Edward H. Myles sold 142,292 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $35.62, for a total value of $5,068,441.04. Following the transaction, the chief financial officer now directly owns 111,345 shares in the company, valued at $3,966,108.90. This represents a 56.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mo Qatanani sold 68,510 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the completion of the transaction, the insider now owns 111,084 shares in the company, valued at $4,154,541.60. This represents a 38.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 292,266 shares of company stock worth $10,996,151. Corporate insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

SRRK has been the topic of several research analyst reports. HC Wainwright upped their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wedbush reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, Truist Financial upped their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Price Performance

Shares of SRRK stock opened at $34.60 on Friday. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. The firm’s 50 day moving average is $39.68 and its 200-day moving average is $31.01. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -14.72 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.

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.