Sphera Funds Management LTD. Has $3.90 Million Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

Sphera Funds Management LTD. trimmed its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 45.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 90,193 shares of the company’s stock after selling 76,673 shares during the period. Sphera Funds Management LTD.’s holdings in Scholar Rock were worth $3,898,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Scholar Rock by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after purchasing an additional 379 shares in the last quarter. Amalgamated Bank lifted its position in shares of Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of 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 purchasing an additional 1,031 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Scholar Rock by 16.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company’s stock worth $350,000 after purchasing an additional 1,170 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Trading Up 0.9%

Shares of NASDAQ SRRK opened at $30.83 on Friday. The company’s 50 day simple moving average is $31.26 and its 200 day simple moving average is $35.87. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The firm has a market capitalization of $2.92 billion, a P/E ratio of -13.12 and a beta of 0.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.04). On average, analysts predict that Scholar Rock Holding Co. will post -2.42 EPS for the current year.

Insiders Place Their Bets

In other Scholar Rock news, insider Tracey Sacco sold 5,000 shares of the stock in a transaction on Friday, April 25th. The shares were 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 in the company, valued at approximately $2,355,552.50. This trade represents a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jay T. Backstrom sold 18,372 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $676,640.76. Following the completion of the sale, the chief executive officer now owns 311,991 shares in the company, valued at approximately $11,490,628.53. This trade represents a 5.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,231 shares of company stock worth $9,220,236. Company insiders own 13.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock 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.