Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles Sells 12,539 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $554,223.80. Following the completion of the sale, the chief financial officer now directly owns 148,549 shares in the company, valued at approximately $6,565,865.80. The trade was a 7.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $46.73 on Thursday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $40.33 and its 200 day moving average price is $23.75. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.81. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -19.89 and a beta of 0.52.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. KBC Group NV purchased a new stake in Scholar Rock in the 4th quarter valued at approximately $131,000. Nisa Investment Advisors LLC lifted its position in shares of Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after acquiring an additional 1,031 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new stake in shares of Scholar Rock in the fourth quarter valued at $1,274,000. GAMMA Investing LLC boosted its stake in shares of 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. Finally, JPMorgan Chase & Co. increased its position in Scholar Rock by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after purchasing an additional 379 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SRRK. HC Wainwright lifted their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler upped their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Wedbush reissued an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a report on Thursday, January 9th. BMO Capital Markets increased their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $40.43.

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.