Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Sells 12,539 Shares of Stock

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) CFO Edward H. Myles sold 12,539 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the sale, the chief financial officer now directly owns 148,549 shares of the company's stock, valued at $6,565,865.80. This represents a 7.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Scholar Rock Price Performance

Shares of SRRK traded up $1.75 during midday trading on Tuesday, hitting $44.88. 1,004,933 shares of the company traded hands, compared to its average volume of 1,009,194. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a 50 day moving average of $39.58 and a 200-day moving average of $23.33. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -19.10 and a beta of 0.52.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SRRK shares. Piper Sandler boosted their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective 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. BMO Capital Markets raised their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, October 11th. Truist Financial upped their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $47.00 price objective on shares of Scholar Rock in a research note on Thursday, January 9th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $40.43.

Hedge Funds Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Scholar Rock by 21.6% during the 3rd 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. GAMMA Investing LLC raised its stake in 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 in the last quarter. Quarry LP lifted its position in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company's stock valued at $36,000 after purchasing an additional 4,373 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock valued at $48,000 after purchasing an additional 1,031 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Scholar Rock in the 2nd quarter worth about $100,000. Hedge funds and other institutional investors own 91.08% of the company's stock.

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.

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