AlphaQuest LLC Reduces Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

AlphaQuest LLC cut its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 97.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 917 shares of the company's stock after selling 34,414 shares during the period. AlphaQuest LLC's holdings in Scholar Rock were worth $40,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Scholar Rock by 51.8% during the fourth 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 period. Global Retirement Partners LLC boosted its position in Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock valued at $39,000 after buying an additional 766 shares during the period. Nisa Investment Advisors LLC grew its stake in Scholar Rock by 1,321.8% in the 4th 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 raised its stake in shares of Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after acquiring an additional 620 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Scholar Rock in the fourth quarter valued at approximately $131,000. 91.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on SRRK. HC Wainwright raised their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Truist Financial raised their price target on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Wedbush reiterated an "outperform" rating and set a $50.00 target price 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $40.86.

Remove Ads

Scholar Rock Stock Up 2.3 %

Shares of SRRK traded up $0.76 during midday trading on Monday, hitting $33.81. 1,297,503 shares of the company's stock traded hands, compared to its average volume of 1,147,801. 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 market capitalization of $3.20 billion, a price-to-earnings ratio of -14.39 and a beta of 0.59. The firm's fifty day moving average is $38.74 and its 200-day moving average is $32.37. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98.

Insider Buying and Selling

In other Scholar Rock news, insider Jing L. Marantz sold 5,655 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $249,951.00. Following the completion of the transaction, the insider now directly owns 67,200 shares of the company's stock, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 in the company, valued at $1,043,579.98. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,272 shares of company stock worth $11,030,778 in the last three months. Corporate insiders own 19.20% of the company's stock.

Scholar Rock 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.