Corient Private Wealth LLC Invests $394,000 in Scholar Rock Holding Co. (NASDAQ:SRRK)

Corient Private Wealth LLC acquired a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,120 shares of the company’s stock, valued at approximately $394,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Scholar Rock in the fourth quarter valued at approximately $1,227,000. Swiss National Bank raised its position in Scholar Rock by 37.1% during the 4th quarter. Swiss National Bank now owns 115,400 shares of the company’s stock worth $4,988,000 after purchasing an additional 31,200 shares during the last quarter. Welch & Forbes LLC bought a new stake in Scholar Rock in the fourth quarter valued at approximately $216,000. E Fund Management Co. Ltd. bought a new stake in shares of Scholar Rock during the 4th quarter valued at about $239,000. Finally, Raymond James Financial Inc. bought a new position in Scholar Rock in the fourth quarter worth approximately $2,625,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Activity at Scholar Rock

In other news, insider Tracey Sacco sold 6,500 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were 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 in the company, valued at approximately $2,373,490. This represents a 8.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.42, for a total transaction of $34,626.52. Following the transaction, the director now owns 30,319 shares in the company, valued at approximately $1,043,579.98. The trade was a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is owned by insiders.

Scholar Rock Price Performance

SRRK opened at $32.84 on Monday. The stock’s 50 day moving average price is $37.74 and its 200-day moving average price is $33.23. The stock has a market capitalization of $3.11 billion, a PE ratio of -13.97 and a beta of 0.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98.

Analyst Upgrades and Downgrades

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