Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Sells $5,068,441.04 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 142,292 shares of Scholar Rock stock in a transaction on Monday, March 10th. The shares were sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the transaction, the chief financial officer now owns 111,345 shares in the company, valued at approximately $3,966,108.90. The trade was a 56.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Scholar Rock Stock Up 3.7 %

Shares of SRRK opened at $35.79 on Thursday. The company has a market capitalization of $3.39 billion, a PE ratio of -15.23 and a beta of 0.59. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98. The stock’s 50-day moving average price is $39.87 and its two-hundred day moving average price is $30.99. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new position in Scholar Rock during the 4th quarter worth about $212,000. GF Fund Management CO. LTD. acquired a new position in Scholar Rock during the 4th quarter worth about $85,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in Scholar Rock during the 4th quarter worth about $16,680,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Scholar Rock by 42.7% in the 4th 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 in the last quarter. Finally, Voloridge Investment Management LLC raised its position in shares of Scholar Rock by 317.4% in the 4th 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 in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SRRK shares. HC Wainwright raised 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. Truist Financial raised their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Wedbush reissued an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a report on Wednesday, January 29th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Scholar Rock presently has an average rating of “Buy” and an average 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.