Scholar Rock Holding Co. (NASDAQ:SRRK) General Counsel Sells $399,523.80 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) General Counsel Junlin Ho sold 9,039 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $399,523.80. Following the transaction, the general counsel now owns 195,037 shares of the company’s stock, valued at approximately $8,620,635.40. This trade represents a 4.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Scholar Rock Trading Up 4.1 %

Shares of SRRK stock traded up $1.75 on Tuesday, hitting $44.88. 1,004,933 shares of the stock traded hands, compared to its average volume of 1,009,194. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.19. The firm’s 50-day moving average price is $39.58 and its two-hundred day moving average price is $23.33. The stock has a market capitalization of $4.20 billion, a PE ratio of -19.10 and a beta of 0.52.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after buying an additional 1,031 shares during the period. Hamilton Lane Advisors LLC purchased a new position in Scholar Rock in the fourth quarter worth approximately $1,274,000. GAMMA Investing LLC increased its stake in Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Scholar Rock by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after buying an additional 379 shares during the period. Finally, Exome Asset Management LLC purchased a new stake in shares of Scholar Rock in the 3rd quarter valued at approximately $1,115,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SRRK has been the subject of a number of research analyst reports. Piper Sandler increased their target price on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets increased their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their target price 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. Truist Financial increased their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a research note on Thursday, January 9th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.