Hood River Capital Management LLC Cuts Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Hood River Capital Management LLC trimmed its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 19.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,898,641 shares of the company's stock after selling 451,080 shares during the quarter. Scholar Rock makes up 1.2% of Hood River Capital Management LLC's holdings, making the stock its 26th biggest holding. Hood River Capital Management LLC owned about 2.03% of Scholar Rock worth $82,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its holdings in Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company's stock worth $589,316,000 after purchasing an additional 3,439,215 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Scholar Rock by 7.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company's stock worth $401,231,000 after buying an additional 629,315 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after buying an additional 708,817 shares during the period. Marshall Wace LLP boosted its position in Scholar Rock by 1,283.7% during the fourth quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock valued at $127,301,000 after acquiring an additional 2,732,546 shares during the last quarter. Finally, Norges Bank acquired a new stake in Scholar Rock during the 4th quarter worth about $86,043,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Stock Down 4.6 %

Shares of NASDAQ SRRK traded down $1.57 during trading on Friday, hitting $32.81. 694,304 shares of the company traded hands, compared to its average volume of 1,240,686. 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 business's fifty day moving average is $32.77 and its 200 day moving average is $35.60. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -13.96 and a beta of 0.56. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98.

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 7,809 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $287,605.47. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Junlin Ho sold 5,742 shares of Scholar Rock stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total transaction of $211,477.86. Following the completion of the sale, the general counsel now directly owns 189,295 shares of the company's stock, valued at approximately $6,971,734.85. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,231 shares of company stock worth $9,056,086. Corporate insiders own 13.30% of the company's stock.

Analyst Ratings Changes

Separately, Wedbush reissued an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Scholar Rock presently has an average rating of "Buy" and a consensus price target of $42.67.

Scholar Rock 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.