Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 56.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,500 shares of the company’s stock after selling 68,500 shares during the quarter. E. Ohman J or Asset Management AB owned 0.06% of Scholar Rock worth $2,312,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Fisher Asset Management LLC raised its stake in shares of Scholar Rock by 593.6% during the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock worth $5,879,000 after buying an additional 628,186 shares during the period. Millennium Management LLC increased its holdings in Scholar Rock by 159.2% in the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after acquiring an additional 568,512 shares in the last quarter. FMR LLC raised its position in Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after acquiring an additional 308,813 shares during the period. Sphera Funds Management LTD. purchased a new position in Scholar Rock during the third quarter valued at $1,337,000. Finally, abrdn plc grew its position in shares of Scholar Rock by 28.2% in the third quarter. abrdn plc now owns 748,489 shares of the company’s stock valued at $5,995,000 after purchasing an additional 164,715 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $40.03 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The stock’s fifty day moving average is $42.53 and its two-hundred day moving average is $25.96. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Wedbush restated an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a research report on Wednesday, January 29th. HC Wainwright lifted their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. BMO Capital Markets increased their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, Truist Financial lifted their target price 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $40.43.

Insider Transactions at Scholar Rock

In other Scholar Rock news, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the transaction, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,974 shares of company stock worth $17,948,788 in the last quarter. Company insiders own 19.20% of the company’s stock.

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.