Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Sells 22,308 Shares of Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the sale, the chief executive officer now owns 330,363 shares of the company’s stock, valued at approximately $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Scholar Rock Stock Up 4.1 %

NASDAQ:SRRK opened at $46.73 on Thursday. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -19.89 and a beta of 0.52. 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 stock has a 50-day moving average price of $40.33 and a two-hundred day moving average price of $23.75. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.81.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler upped their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Wedbush restated an “outperform” rating and issued a $47.00 price target on shares of Scholar Rock in a research report on Thursday, January 9th. JPMorgan Chase & Co. lifted their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets increased their target price on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $40.43.

Institutional Trading of Scholar Rock

Large investors have recently bought and sold shares of the business. FMR LLC lifted its stake in Scholar Rock by 3.1% in the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock valued at $81,670,000 after buying an additional 308,813 shares in the last quarter. Geode Capital Management LLC lifted its position in Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after acquiring an additional 120,489 shares in the last quarter. Millennium Management LLC boosted its stake in Scholar Rock by 159.2% in the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after purchasing an additional 568,512 shares during the period. Hood River Capital Management LLC increased its holdings in Scholar Rock by 5.1% during the 2nd quarter. Hood River Capital Management LLC now owns 832,792 shares of the company’s stock worth $6,937,000 after purchasing an additional 40,745 shares in the last quarter. Finally, abrdn plc raised its stake in shares of Scholar Rock by 28.2% in the 3rd quarter. abrdn plc now owns 748,489 shares of the company’s stock valued at $5,995,000 after purchasing an additional 164,715 shares during the period. 91.08% of the stock is owned by institutional investors.

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.