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

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Scholar Rock by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after purchasing an additional 379 shares during the last quarter. Amalgamated Bank raised its holdings in Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after acquiring an additional 766 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after acquiring an additional 1,031 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of Scholar Rock by 16.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company’s stock valued at $350,000 after acquiring an additional 1,170 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Katie Peng sold 1,006 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.42, for a total transaction of $34,626.52. Following the completion of the sale, the director now directly owns 30,319 shares of the company’s stock, valued at approximately $1,043,579.98. This represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracey Sacco sold 5,000 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $32.83, for a total value of $164,150.00. Following the sale, the insider now directly owns 71,750 shares of the company’s stock, valued at approximately $2,355,552.50. The trade was a 6.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 154,798 shares of company stock valued at $5,482,238. 13.30% of the stock is owned by corporate insiders.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $28.86 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a market cap of $2.74 billion, a PE ratio of -12.28 and a beta of 0.37. The stock has a 50-day moving average of $30.55 and a 200-day moving average of $35.95. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04). During the same quarter in the prior year, the company earned ($0.59) earnings per share. As a group, sell-side analysts expect that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $42.67.

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.