Exchange Traded Concepts LLC reduced its stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 81.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,887 shares of the company's stock after selling 82,792 shares during the period. Exchange Traded Concepts LLC's holdings in Scholar Rock were worth $816,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC increased its position 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 in the last quarter. JPMorgan Chase & Co. increased its position in shares of Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company's stock worth $310,000 after acquiring an additional 379 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock worth $25,000 after acquiring an additional 514 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock worth $48,000 after buying an additional 1,031 shares during the period. Finally, Cinctive Capital Management LP boosted its position in shares of Scholar Rock by 7.2% in the third quarter. Cinctive Capital Management LP now owns 42,902 shares of the company's stock worth $344,000 after buying an additional 2,869 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Scholar Rock
In related news, CEO Jay T. Backstrom sold 22,308 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the transaction, the chief executive officer now directly owns 330,363 shares in the company, valued at approximately $14,602,044.60. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the transaction, the insider now owns 10,850,005 shares in the company, valued at $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 458,974 shares of company stock valued at $17,948,788. Corporate insiders own 19.20% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. Truist Financial raised their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. BMO Capital Markets increased their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Friday, October 11th. HC Wainwright increased their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Finally, Piper Sandler upped their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Six investment 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 an average price target of $40.43.
View Our Latest Report on SRRK
Scholar Rock Stock Down 2.1 %
Shares of SRRK stock traded down $0.91 on Thursday, hitting $41.65. The company's stock had a trading volume of 144,576 shares, compared to its average volume of 952,331. 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 Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The firm's fifty day moving average price is $41.94 and its 200-day moving average price is $24.97. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -17.71 and a beta of 0.52.
Scholar Rock Company Profile
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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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