E. Ohman J or Asset Management AB Lowers Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

E. Ohman J or Asset Management AB trimmed its stake in Scholar Rock Holding Co. (NASDAQ:SRRK) by 56.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 53,500 shares of the company’s stock after selling 68,500 shares during the period. E. Ohman J or Asset Management AB’s holdings in Scholar Rock were worth $2,312,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in Scholar Rock in the 2nd quarter valued at about $769,000. AQR Capital Management LLC boosted its stake in shares of Scholar Rock by 287.2% in the second quarter. AQR Capital Management LLC now owns 39,754 shares of the company’s stock valued at $331,000 after purchasing an additional 29,487 shares during the period. Millennium Management LLC grew its holdings in shares of Scholar Rock by 159.2% in the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after purchasing an additional 568,512 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Scholar Rock by 30.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 222,800 shares of the company’s stock worth $1,856,000 after buying an additional 52,329 shares during the period. Finally, Algert Global LLC lifted its holdings in Scholar Rock by 34.7% during the 2nd quarter. Algert Global LLC now owns 16,695 shares of the company’s stock worth $139,000 after buying an additional 4,305 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Stock Performance

SRRK stock opened at $40.03 on Wednesday. The business has a 50 day moving average price of $42.53 and a 200 day moving average price of $25.96. 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 fifty-two week low of $6.76 and a fifty-two week high of $46.98.

Analysts Set New Price Targets

SRRK has been the topic of a number of recent research reports. Piper Sandler upped their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial upped their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Wedbush reissued an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, BMO Capital Markets boosted their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and a consensus price target of $40.43.

Insiders Place Their Bets

In other news, insider Jing L. Marantz sold 5,655 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value 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. This represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the transaction, the insider now owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 458,974 shares of company stock valued at $17,948,788. 19.20% of the stock is owned by corporate insiders.

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.