BIT Capital GmbH Cuts Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

BIT Capital GmbH reduced its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 87.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,315 shares of the company's stock after selling 456,530 shares during the quarter. BIT Capital GmbH owned about 0.07% of Scholar Rock worth $2,823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock worth $34,000 after acquiring an additional 269 shares during the period. Quarry LP increased its stake in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company's stock worth $36,000 after acquiring an additional 4,373 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of 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 acquiring an additional 766 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock valued at $48,000 after acquiring an additional 1,031 shares during the last quarter. Finally, Amalgamated Bank grew its holdings 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. 91.08% of the stock is owned by institutional investors.

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Insider Activity at Scholar Rock

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of Scholar Rock stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.42, for a total value of $34,626.52. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tracey Sacco sold 6,500 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $33.08, for a total value of $215,020.00. Following the transaction, the insider now directly owns 71,750 shares in the company, valued at approximately $2,373,490. The trade was a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is owned by insiders.

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 Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $42.67.

Scholar Rock Stock Down 4.5 %

Scholar Rock stock traded down $1.47 on Monday, hitting $31.38. 328,635 shares of the stock traded hands, compared to its average volume of 953,052. 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 business's fifty day simple moving average is $37.74 and its 200 day simple moving average is $33.23. The firm has a market cap of $2.97 billion, a P/E ratio of -13.35 and a beta of 0.59.

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.