Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Sells 7,809 Shares of Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 7,809 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $287,605.47. Following the completion of the transaction, the chief financial officer now directly owns 140,740 shares of the company’s stock, valued at $5,183,454.20. This represents a 5.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Scholar Rock Stock Performance

SRRK stock opened at $37.70 on Friday. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $46.98. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $41.81 and a 200-day moving average price of $28.51. The firm has a market cap of $3.53 billion, a PE ratio of -16.04 and a beta of 0.50.

Analysts Set New Price Targets

Several brokerages have commented on SRRK. HC Wainwright lifted their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wedbush reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, Truist Financial upped their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $40.43.

Institutional Investors Weigh In On Scholar Rock

A number of hedge funds have recently added to or reduced their stakes in SRRK. FMR LLC grew its position in shares of Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company’s stock worth $589,316,000 after buying an additional 3,439,215 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Scholar Rock by 7.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company’s stock worth $401,231,000 after acquiring an additional 629,315 shares in the last quarter. Vanguard Group Inc. grew its holdings in Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock worth $205,013,000 after purchasing an additional 708,817 shares during the period. Marshall Wace LLP increased its stake in Scholar Rock by 1,283.7% in the fourth quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock valued at $127,301,000 after purchasing an additional 2,732,546 shares in the last quarter. Finally, Bellevue Group AG raised its holdings in shares of Scholar Rock by 16.2% during the fourth quarter. Bellevue Group AG now owns 2,510,690 shares of the company’s stock valued at $108,512,000 after purchasing an additional 349,487 shares during the period. 91.08% of the stock is currently owned by institutional investors.

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.