Wellington Management Group LLP Buys 1,525,845 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Wellington Management Group LLP raised its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 763.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,725,622 shares of the company’s stock after purchasing an additional 1,525,845 shares during the period. Wellington Management Group LLP’s holdings in Scholar Rock were worth $74,581,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after acquiring an additional 269 shares during the period. Global Retirement Partners LLC boosted its position in shares of Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares in the last quarter. Amalgamated Bank raised its position in shares of Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock valued at $114,000 after purchasing an additional 620 shares during the period. Finally, KBC Group NV purchased a new position in shares of Scholar Rock during the 4th quarter valued at $131,000. Institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling at Scholar Rock

In related 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 transaction of $249,951.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock 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 $986,013.60. Following the completion of the sale, the chief executive officer now directly owns 330,363 shares in the company, valued at approximately $14,602,044.60. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 299,772 shares of company stock valued at $11,245,798 in the last 90 days. Insiders own 19.20% of the company’s stock.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK opened at $26.90 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -11.45 and a beta of 0.56. The firm has a fifty day moving average price of $36.31 and a 200 day moving average price of $33.65. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98.

Wall Street Analysts Forecast Growth

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

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.