Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom Sells 18,372 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom sold 18,372 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 value of $676,640.76. Following the transaction, the chief executive officer now directly owns 311,991 shares of the company’s stock, valued at approximately $11,490,628.53. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Scholar Rock Stock Performance

Shares of NASDAQ SRRK opened at $39.15 on Friday. 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 $46.98. The stock’s 50-day simple moving average is $41.89 and its 200-day simple moving average is $28.17.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently made changes to their positions in SRRK. FMR LLC raised its position in shares of 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 acquiring an additional 3,439,215 shares in the last quarter. Marshall Wace LLP raised its position in shares of Scholar Rock by 1,283.7% during the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock worth $127,301,000 after acquiring an additional 2,732,546 shares in the last quarter. Norges Bank acquired a new stake in shares of Scholar Rock during the 4th quarter worth about $86,043,000. Fairmount Funds Management LLC acquired a new stake in shares of Scholar Rock during the 4th quarter worth about $84,839,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Scholar Rock during the 4th quarter worth about $68,930,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on SRRK shares. Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research note on Wednesday, January 29th. Truist Financial increased their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, HC Wainwright increased their price target on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Scholar Rock 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.