Rock Springs Capital Management LP Invests $30.98 Million in Scholar Rock Holding Co. (NASDAQ:SRRK)

Rock Springs Capital Management LP bought a new position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 716,782 shares of the company's stock, valued at approximately $30,979,000. Rock Springs Capital Management LP owned approximately 0.77% of Scholar Rock at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SRRK. Barclays PLC grew its holdings in shares of Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company's stock valued at $1,324,000 after purchasing an additional 84,118 shares in the last quarter. Geode Capital Management LLC increased its stake in Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock worth $12,361,000 after acquiring an additional 120,489 shares during the last quarter. Exome Asset Management LLC purchased a new stake in Scholar Rock during the third quarter valued at approximately $1,115,000. JPMorgan Chase & Co. lifted its stake in shares of Scholar Rock by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company's stock valued at $310,000 after purchasing an additional 379 shares during the last quarter. Finally, GAMMA Investing LLC increased its position 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 acquiring an additional 269 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a report on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Scholar Rock presently has a consensus rating of "Buy" and an average target price of $42.67.

Scholar Rock Trading Down 4.6 %

Scholar Rock stock traded down $1.57 during trading hours on Friday, hitting $32.81. The company had a trading volume of 694,304 shares, compared to its average volume of 1,239,511. The firm has a market cap of $3.11 billion, a P/E ratio of -13.96 and a beta of 0.56. The company has a 50-day moving average price of $32.85 and a two-hundred day moving average price of $35.58. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Insider Buying and Selling

In related news, CFO Edward H. Myles sold 7,809 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $287,605.47. Following the completion of the sale, the chief financial officer now directly owns 140,740 shares of the company's stock, valued at $5,183,454.20. This represents a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay T. Backstrom sold 18,372 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total transaction of $676,640.76. Following the transaction, the chief executive officer now directly owns 311,991 shares in the company, valued at $11,490,628.53. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,231 shares of company stock valued at $9,056,086 over the last quarter. 13.30% of the stock is owned by corporate insiders.

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.