Scholar Rock Holding Co. (NASDAQ:SRRK) Insider Sells $2,562,274.00 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) insider Mo Qatanani sold 68,510 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the completion of the sale, the insider now owns 111,084 shares of the company’s stock, valued at approximately $4,154,541.60. This represents a 38.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $37.70 on Friday. The firm has a 50-day moving average of $41.81 and a 200-day moving average of $28.51. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The stock has a market cap of $3.53 billion, a PE ratio of -16.04 and a beta of 0.50. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp bought a new position in Scholar Rock during the fourth quarter worth about $212,000. GF Fund Management CO. LTD. bought a new position in Scholar Rock during the fourth quarter worth about $85,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in Scholar Rock during the fourth quarter worth about $16,680,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Scholar Rock by 42.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company’s stock worth $5,845,000 after acquiring an additional 40,436 shares during the period. Finally, Voloridge Investment Management LLC increased its position in Scholar Rock by 317.4% during the fourth quarter. Voloridge Investment Management LLC now owns 201,576 shares of the company’s stock worth $8,712,000 after acquiring an additional 153,280 shares during the period. 91.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SRRK has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $47.00 price target on shares of Scholar Rock in a research note on Wednesday, January 29th. HC Wainwright increased their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial raised their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six equities 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 MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and a consensus target price of $40.43.

About Scholar Rock

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.