Aigen Investment Management LP Sells 5,800 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Aigen Investment Management LP trimmed its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 27.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,211 shares of the company’s stock after selling 5,800 shares during the period. Aigen Investment Management LP’s holdings in Scholar Rock were worth $122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SRRK. Mirae Asset Global Investments Co. Ltd. grew its stake 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 valued at $25,000 after acquiring an additional 514 shares in the last quarter. Walleye Trading LLC purchased a new position in Scholar Rock during the first quarter valued at $178,000. Principal Financial Group Inc. purchased a new position in Scholar Rock during the second quarter valued at $98,000. Hsbc Holdings PLC purchased a new position in Scholar Rock during the second quarter valued at $100,000. Finally, Point72 DIFC Ltd purchased a new position in Scholar Rock during the second quarter valued at $103,000. 91.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

SRRK has been the subject of several research analyst reports. Piper Sandler raised their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. HC Wainwright raised their target price on shares of Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets lifted their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Wedbush reissued an “outperform” rating and issued a $37.00 price objective on shares of Scholar Rock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Scholar Rock has a consensus rating of “Buy” and an average price target of $34.00.

Scholar Rock Price Performance

SRRK stock opened at $26.49 on Monday. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $35.38. The company has a current ratio of 3.88, a quick ratio of 6.04 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $20.61 and a 200 day moving average price of $13.59. The stock has a market cap of $2.48 billion, a PE ratio of -11.27 and a beta of 0.47.

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.