Proficio Capital Partners LLC purchased a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 54,717 shares of the company's stock, valued at approximately $2,365,000. Proficio Capital Partners LLC owned about 0.06% of Scholar Rock as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. acquired a new position in Scholar Rock in the 4th quarter valued at about $374,000. Charles Schwab Investment Management Inc. boosted its holdings in Scholar Rock by 23.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,409 shares of the company's stock valued at $26,901,000 after purchasing an additional 119,616 shares during the period. Amalgamated Bank boosted its holdings in Scholar Rock by 30.6% in the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after purchasing an additional 620 shares during the period. Bank of New York Mellon Corp boosted its holdings in Scholar Rock by 15.6% in the 4th quarter. Bank of New York Mellon Corp now owns 207,492 shares of the company's stock valued at $8,968,000 after purchasing an additional 27,930 shares during the period. Finally, Handelsbanken Fonder AB bought a new stake in Scholar Rock in the 4th quarter valued at about $942,000. Institutional investors and hedge funds own 91.08% of the company's stock.
Insider Buying and Selling
In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the company'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 completion of the transaction, the director now directly owns 30,319 shares in the company, valued at approximately $1,043,579.98. This represents a 3.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jing L. Marantz sold 5,655 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the completion of the transaction, the insider now owns 67,200 shares of the company's stock, valued at approximately $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,272 shares of company stock worth $11,030,778 in the last three months. 19.20% of the stock is owned by corporate insiders.
Scholar Rock Price Performance
SRRK stock traded down $0.59 during trading on Friday, reaching $33.05. 2,661,055 shares of the company were exchanged, compared to its average volume of 1,145,876. The company has a 50-day moving average of $38.74 and a two-hundred day moving average of $32.04. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -14.06 and a beta of 0.59. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month 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.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on SRRK. HC Wainwright boosted their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Truist Financial boosted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, Wedbush reissued an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Monday, March 17th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $40.86.
Check Out Our Latest Stock Report on Scholar Rock
About Scholar Rock
(
Free Report)
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.
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