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

Wellington Management Group LLP boosted its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 763.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,725,622 shares of the company’s stock after buying an additional 1,525,845 shares during the period. Wellington Management Group LLP owned approximately 1.84% of Scholar Rock worth $74,581,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SRRK. Intech Investment Management LLC purchased a new stake in shares of Scholar Rock in the third quarter worth $202,000. Charles Schwab Investment Management Inc. grew its position in Scholar Rock by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after purchasing an additional 42,139 shares during the last quarter. FMR LLC increased its stake in Scholar Rock by 3.1% during the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company’s stock valued at $81,670,000 after purchasing an additional 308,813 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Scholar Rock by 900.6% in the third quarter. BNP Paribas Financial Markets now owns 36,331 shares of the company’s stock worth $291,000 after buying an additional 32,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Scholar Rock by 7.1% in 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 buying an additional 6,269 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $26.90 on Friday. The firm has a market capitalization of $2.55 billion, a PE ratio of -11.45 and a beta of 0.56. The company has a 50 day moving average price of $36.31 and a 200-day moving average price of $33.65. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Scholar Rock news, insider Jing L. Marantz sold 5,655 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $249,951.00. Following the transaction, the insider now directly owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $215,020.00. Following the sale, the insider now directly owns 71,750 shares of the company’s stock, valued at $2,373,490. The trade was a 8.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 299,772 shares of company stock valued at $11,245,798. Company insiders own 19.20% of the company’s stock.

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.