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

DnB Asset Management AS trimmed its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 41.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,252 shares of the company’s stock after selling 8,527 shares during the period. DnB Asset Management AS’s holdings in Scholar Rock were worth $530,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock valued at $1,600,000 after buying an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after acquiring an additional 42,139 shares in the last quarter. Barclays PLC raised its stake in shares of Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after acquiring an additional 84,118 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Scholar Rock by 7.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock valued at $759,000 after purchasing an additional 6,269 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after purchasing an additional 120,489 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling

In other news, insider Tracey Sacco sold 6,500 shares of Scholar Rock 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 transaction, the insider now directly owns 71,750 shares of the company’s stock, valued at $2,373,490. This trade represents a 8.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.42, for a total transaction of $34,626.52. Following the completion of the sale, the director now owns 30,319 shares of the company’s stock, valued at approximately $1,043,579.98. This represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 299,772 shares of company stock valued at $11,245,798 over the last three months. Company insiders own 19.20% of the company’s stock.

Scholar Rock Price Performance

Shares of SRRK stock opened at $32.54 on Thursday. The firm’s 50 day moving average price is $36.94 and its two-hundred day moving average price is $33.54. The stock has a market cap of $3.08 billion, a PE ratio of -13.85 and a beta of 0.59. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Wall Street Analyst Weigh In

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 presently has an average rating of “Buy” and an average price target of $42.67.

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.