Scholar Rock Holding Co. (NASDAQ:SRRK) Major Shareholder Sells $15,759,076.17 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the sale, the insider now owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Scholar Rock Trading Up 4.6 %

Shares of Scholar Rock stock opened at $39.90 on Friday. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $43.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a market cap of $3.74 billion, a PE ratio of -16.23 and a beta of 0.47. The firm has a fifty day moving average price of $24.88 and a 200 day moving average price of $14.70.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SRRK shares. Wedbush upped their price objective on shares of Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, November 25th. HC Wainwright upped 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. Truist Financial lifted their price objective 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. Piper Sandler upped their target price on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets lifted their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $40.43.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently modified their holdings of SRRK. Vanguard Group Inc. grew its holdings in Scholar Rock by 4.0% during the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after acquiring an additional 114,550 shares during the period. American International Group Inc. grew its stake in shares of Scholar Rock by 3.0% during the 1st quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after purchasing an additional 834 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Scholar Rock during the 1st quarter valued at approximately $258,000. Kennedy Capital Management LLC acquired a new position in shares of Scholar Rock in the 1st quarter valued at $4,900,000. Finally, Jane Street Group LLC boosted its holdings in Scholar Rock by 95.5% during the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after buying an additional 119,363 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.