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

Pictet Asset Management Holding SA acquired a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 194,668 shares of the company’s stock, valued at approximately $8,414,000. Pictet Asset Management Holding SA owned about 0.21% of Scholar Rock as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after acquiring an additional 269 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after acquiring an additional 379 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Scholar Rock by 30.6% during the 4th 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. Global Retirement Partners LLC raised its stake in shares of Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised 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 buying an additional 1,031 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Price Performance

Shares of SRRK stock opened at $32.54 on Thursday. The company has a market cap of $3.08 billion, a P/E ratio of -13.85 and a beta of 0.59. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $36.94 and a 200 day simple moving average of $33.54. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98.

Insider Activity

In related news, insider Tracey Sacco sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the transaction, the insider now owns 71,750 shares in the company, valued at $2,373,490. This trade represents a 8.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the sale, the insider now directly owns 67,200 shares in the company, 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. In the last ninety days, insiders sold 299,772 shares of company stock worth $11,245,798. Insiders own 19.20% of the company’s stock.

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 report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Scholar Rock has a consensus rating of “Buy” and an average price target of $42.67.

Scholar Rock 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.