Proficio Capital Partners LLC Takes $2.37 Million Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Proficio Capital Partners LLC purchased a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 54,717 shares of the company's stock, valued at approximately $2,365,000. Proficio Capital Partners LLC owned approximately 0.06% of Scholar Rock at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock valued at $25,000 after purchasing an additional 514 shares in the last quarter. GAMMA Investing LLC raised its position in 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 purchasing an additional 269 shares in the last quarter. Quarry LP increased its holdings in shares of Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company's stock valued at $36,000 after acquiring an additional 4,373 shares during the last quarter. Global Retirement Partners LLC increased 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 during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Scholar Rock by 1,321.8% in 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. Institutional investors and hedge funds own 91.08% of the company's stock.

Remove Ads

Insider Buying and Selling

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the completion of the sale, the insider now directly owns 111,084 shares of the company's stock, valued at approximately $4,154,541.60. This trade represents a 38.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward H. Myles sold 7,809 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total value of $287,605.47. Following the sale, the chief financial officer now directly owns 140,740 shares of the company's stock, valued at $5,183,454.20. The trade was a 5.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 149,974 shares of company stock worth $5,927,710 in the last quarter. 19.20% of the stock is owned by insiders.

Scholar Rock Stock Performance

NASDAQ:SRRK traded down $0.13 during mid-day trading on Friday, reaching $36.00. 1,174,900 shares of the stock were exchanged, compared to its average volume of 1,164,103. The company has a 50 day simple moving average of $40.35 and a 200-day simple moving average of $30.44. The stock has a market capitalization of $3.41 billion, a P/E ratio of -15.32 and a beta of 0.59. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SRRK. Wedbush reiterated an "outperform" rating and issued a $47.00 price objective on shares of Scholar Rock in a report on Wednesday, January 29th. Truist Financial increased their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, HC Wainwright increased their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $40.43.

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.