Corebridge Financial Inc. Raises Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Corebridge Financial Inc. lifted its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 5.2% in the fourth quarter, HoldingsChannel reports. The firm owned 38,539 shares of the company’s stock after purchasing an additional 1,915 shares during the quarter. Corebridge Financial Inc.’s holdings in Scholar Rock were worth $1,666,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of Scholar Rock by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after buying an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 during the last quarter. Barclays PLC grew its position in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 worth $759,000 after acquiring an additional 6,269 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Scholar Rock by 8.5% during 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 during the period. Institutional investors own 91.08% of the company’s stock.

Insider Activity at Scholar Rock

In other news, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the completion of the sale, the insider now directly owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracey Sacco sold 6,500 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $33.08, for a total transaction of $215,020.00. Following the completion of the transaction, the insider now directly owns 71,750 shares in the company, valued at $2,373,490. This represents a 8.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 299,772 shares of company stock worth $11,245,798 in the last quarter. 19.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Scholar Rock Stock Up 8.3 %

Shares of NASDAQ:SRRK opened at $32.54 on Thursday. The firm has a market capitalization of $3.08 billion, a PE ratio of -13.85 and a beta of 0.59. The business has a 50 day simple moving average of $36.94 and a two-hundred day simple moving average of $33.54. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. 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 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.