Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Sells $676,640.76 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) CEO Jay T. Backstrom sold 18,372 shares of Scholar Rock stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total value of $676,640.76. Following the completion of the transaction, the chief executive officer now owns 311,991 shares in the company, valued at $11,490,628.53. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Scholar Rock Trading Down 3.7 %

Scholar Rock stock traded down $1.45 during mid-day trading on Friday, hitting $37.70. The stock had a trading volume of 717,240 shares, compared to its average volume of 757,555. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98. The stock has a market capitalization of $3.53 billion, a PE ratio of -16.04 and a beta of 0.50. The stock has a 50-day simple moving average of $41.81 and a two-hundred day simple moving average of $28.37.

Wall Street Analyst Weigh In

SRRK has been the subject of a number of research analyst reports. HC Wainwright upped their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Wedbush restated an "outperform" rating and issued a $47.00 price target on shares of Scholar Rock in a research report on Wednesday, January 29th. Finally, Truist Financial lifted their price target on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $40.43.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently modified their holdings of SRRK. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 valued at $25,000 after acquiring an additional 514 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company's stock valued at $34,000 after acquiring an additional 269 shares during the period. Quarry LP boosted its stake in Scholar Rock by 3,443.3% during 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 grew its holdings in Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock valued at $39,000 after purchasing an additional 766 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Scholar Rock by 1,321.8% in 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 in the last quarter. 91.08% of the stock is owned by institutional investors.

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.