Quest Partners LLC Trims Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Quest Partners LLC lowered its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 42.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,331 shares of the company's stock after selling 25,698 shares during the period. Quest Partners LLC's holdings in Scholar Rock were worth $283,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Walleye Trading LLC acquired a new stake in Scholar Rock during the 1st quarter worth $178,000. Principal Financial Group Inc. purchased a new stake in Scholar Rock in the second quarter valued at $98,000. Hsbc Holdings PLC acquired a new position in Scholar Rock in the second quarter valued at $100,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Scholar Rock during the second quarter worth about $103,000. Hedge funds and other institutional investors own 91.08% of the company's stock.

Scholar Rock Stock Performance

Shares of SRRK stock traded down $0.66 during mid-day trading on Tuesday, hitting $37.06. The stock had a trading volume of 1,417,007 shares, compared to its average volume of 1,153,763. The firm has a market cap of $3.47 billion, a PE ratio of -15.83 and a beta of 0.47. The company's 50-day simple moving average is $23.12 and its 200-day simple moving average is $14.21. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $43.38.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SRRK shares. Wedbush upped their target price on Scholar Rock from $40.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday. BMO Capital Markets increased their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, October 11th. Piper Sandler lifted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Truist Financial increased their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday. Finally, HC Wainwright lifted their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Scholar Rock currently has an average rating of "Buy" and an average target price of $40.43.

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the sale, the chief financial officer now directly owns 161,088 shares in the company, valued at approximately $4,278,497.28. This trade represents a 56.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the sale, the director now directly owns 5,612,896 shares in the company, valued at $164,177,208. This trade represents a 17.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,413,889 shares of company stock worth $40,652,551. Company insiders own 19.20% 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.