ExodusPoint Capital Management LP trimmed its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 41.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,230 shares of the company's stock after selling 65,611 shares during the period. ExodusPoint Capital Management LP owned about 0.10% of Scholar Rock worth $3,943,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Scholar Rock by 51.8% during 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 in the last quarter. Quarry LP boosted its stake in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company's stock worth $36,000 after acquiring an additional 4,373 shares in the last quarter. Global Retirement Partners LLC grew its stake 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 worth $39,000 after buying an additional 766 shares during the last quarter. Nisa Investment Advisors LLC raised its position 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 worth $48,000 after purchasing an additional 1,031 shares during the last quarter. Finally, Amalgamated Bank grew its position in Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after purchasing an additional 620 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Scholar Rock
In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.42, for a total transaction of $34,626.52. Following the sale, the director now directly owns 30,319 shares of the company's stock, valued at $1,043,579.98. This trade represents a 3.21 % 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 22,308 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the transaction, the chief executive officer now directly owns 330,363 shares in the company, valued at approximately $14,602,044.60. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 299,772 shares of company stock worth $11,245,798 in the last quarter. Company insiders own 19.20% of the company's stock.
Scholar Rock Stock Performance
Scholar Rock stock traded up $1.69 during mid-day trading on Friday, reaching $28.00. 1,761,907 shares of the stock traded hands, compared to its average volume of 1,215,842. The business's 50-day moving average is $34.21 and its 200-day moving average is $34.51. The stock has a market capitalization of $2.65 billion, a PE ratio of -11.91 and a beta of 0.56. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.
Wall Street Analyst Weigh In
Separately, Wedbush restated an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $42.67.
Read Our Latest Stock Analysis on Scholar Rock
About Scholar Rock
(
Free Report)
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.
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