Clearbridge Investments LLC Has $18.21 Million Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Clearbridge Investments LLC cut its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 54.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 421,384 shares of the company’s stock after selling 503,011 shares during the period. Clearbridge Investments LLC owned about 0.45% of Scholar Rock worth $18,212,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC increased its holdings in Scholar Rock by 3.1% in the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after purchasing an additional 308,813 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Scholar Rock by 17.6% during the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock worth $205,013,000 after purchasing an additional 708,817 shares during the last quarter. Norges Bank acquired a new position in shares of Scholar Rock in the fourth quarter valued at approximately $86,043,000. Geode Capital Management LLC raised its holdings in Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after buying an additional 120,489 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Scholar Rock during the 4th quarter worth approximately $33,567,000. 91.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a research report on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Scholar Rock has a consensus rating of “Buy” and a consensus price target of $42.67.

Insider Activity

In other news, insider Tracey Sacco sold 6,500 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $33.08, for a total value 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. The trade was a 8.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward H. Myles sold 142,292 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the sale, the chief financial officer now directly owns 111,345 shares of the company’s stock, valued at $3,966,108.90. This represents a 56.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is currently owned by insiders.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $32.54 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. The business’s 50 day simple moving average is $36.94 and its 200 day simple moving average is $33.54. The stock has a market capitalization of $3.08 billion, a PE ratio of -13.85 and a beta of 0.59.

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.