Redmile Group LLC Sells 688,956 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Redmile Group LLC cut its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,549,881 shares of the company’s stock after selling 688,956 shares during the quarter. Scholar Rock accounts for 13.7% of Redmile Group LLC’s holdings, making the stock its largest position. Redmile Group LLC owned 4.86% of Scholar Rock worth $196,646,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

Scholar Rock Stock Down 2.7%

NASDAQ:SRRK opened at $30.54 on Thursday. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. 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 company has a market cap of $2.90 billion, a PE ratio of -13.00 and a beta of 0.37. The firm’s 50 day simple moving average is $31.35 and its 200 day simple moving average is $35.87.

Scholar Rock (NASDAQ:SRRK) last issued 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). On average, research analysts anticipate that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In related news, insider Tracey Sacco sold 6,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 71,750 shares of the company’s stock, valued at $2,373,490. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Katie Peng sold 1,006 shares of the firm’s 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 sale, the director now directly owns 30,319 shares of the company’s stock, valued at approximately $1,043,579.98. This trade represents a 3.21% decrease in their position. 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 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.