1,175,278 Shares in Scholar Rock Holding Corporation $SRRK Bought by Norges Bank

Norges Bank acquired a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,175,278 shares of the company’s stock, valued at approximately $41,628,000.

Several other hedge funds also recently bought and sold shares of SRRK. Federated Hermes Inc. purchased a new stake in shares of Scholar Rock during the 1st quarter worth about $71,000. Strs Ohio acquired a new position in Scholar Rock in the first quarter worth approximately $77,000. Elevation Point Wealth Partners LLC acquired a new position in Scholar Rock in the second quarter worth approximately $94,000. Mirae Asset Global Investments Co. Ltd. raised its position in Scholar Rock by 15.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,668 shares of the company’s stock valued at $130,000 after acquiring an additional 500 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in Scholar Rock by 490.7% in the first quarter. AlphaQuest LLC now owns 5,417 shares of the company’s stock valued at $174,000 after acquiring an additional 4,500 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SRRK shares. HC Wainwright dropped their price target on shares of Scholar Rock from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, September 23rd. Leerink Partners started coverage on shares of Scholar Rock in a report on Monday, September 15th. They issued an “outperform” rating and a $51.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a report on Friday, November 14th. Truist Financial reduced their price target on Scholar Rock from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Finally, Jefferies Financial Group started coverage on Scholar Rock in a research note on Thursday, August 21st. They set a “buy” rating and a $50.00 price target for the company. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $48.33.

Scholar Rock Stock Down 0.4%

Scholar Rock stock opened at $45.02 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.30 and a quick ratio of 6.30. Scholar Rock Holding Corporation has a fifty-two week low of $22.71 and a fifty-two week high of $46.98. The firm has a fifty day moving average price of $35.09 and a two-hundred day moving average price of $34.48. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of -14.29 and a beta of 0.61.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter in the prior year, the business earned ($0.66) earnings per share. As a group, analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Mo Qatanani sold 136,462 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $45.21, for a total transaction of $6,169,447.02. Following the completion of the transaction, the insider directly owned 108,964 shares in the company, valued at $4,926,262.44. The trade was a 55.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katie Peng sold 1,006 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total transaction of $32,725.18. Following the completion of the sale, the director owned 33,914 shares in the company, valued at approximately $1,103,222.42. The trade was a 2.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 143,999 shares of company stock valued at $6,411,535 in the last three months. Company insiders own 13.30% of the company’s stock.

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.