Envestnet Asset Management Inc. Sells 1,541 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Envestnet Asset Management Inc. reduced its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,073 shares of the company’s stock after selling 1,541 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Scholar Rock were worth $392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SRRK. Vanguard Group Inc. boosted its stake in shares of Scholar Rock by 17.6% in the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock valued at $205,013,000 after purchasing an additional 708,817 shares in the last quarter. Norges Bank bought a new stake in shares of Scholar Rock during the fourth quarter worth $86,043,000. Geode Capital Management LLC increased its holdings in shares of Scholar Rock by 14.7% during the fourth quarter. Geode Capital Management LLC now owns 1,770,324 shares of the company’s stock worth $76,530,000 after buying an additional 227,299 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Scholar Rock by 763.8% in the 4th quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company’s stock valued at $74,581,000 after acquiring an additional 1,525,845 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Scholar Rock during the 4th quarter valued at $33,567,000. Institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling at Scholar Rock

In other news, Director Katie Peng sold 1,006 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the transaction, the director now owns 30,319 shares in the company, valued at approximately $1,043,579.98. The trade was a 3.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tracey Sacco sold 6,500 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $33.08, for a total transaction of $215,020.00. Following the sale, the insider now owns 71,750 shares of the company’s stock, valued at approximately $2,373,490. This trade represents a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,231 shares of company stock worth $9,220,236. Insiders own 13.30% of the company’s stock.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $32.57 on Tuesday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -13.86 and a beta of 0.37. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The company’s fifty day moving average is $32.17 and its 200 day moving average is $35.89.

Analyst Upgrades and Downgrades

Separately, Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and an average price target 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.