Jay T. Backstrom Sells 18,372 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom sold 18,372 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $676,640.76. Following the sale, the chief executive officer now owns 311,991 shares of the company’s stock, valued at $11,490,628.53. This represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Scholar Rock Trading Down 3.7 %

NASDAQ SRRK opened at $37.70 on Friday. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. 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 50 day simple moving average of $41.81 and a two-hundred day simple moving average of $28.37. The stock has a market cap of $3.53 billion, a P/E ratio of -16.04 and a beta of 0.50.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SRRK shares. Wedbush restated an “outperform” rating and set a $47.00 price target on shares of Scholar Rock in a research report on Wednesday, January 29th. Truist Financial raised their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright raised their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $40.43.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in Scholar Rock in the 4th quarter worth approximately $212,000. GF Fund Management CO. LTD. purchased a new position in shares of Scholar Rock in the 4th quarter valued at approximately $85,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in shares of Scholar Rock in the 4th quarter valued at approximately $16,680,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $5,845,000 after purchasing an additional 40,436 shares during the period. Finally, Voloridge Investment Management LLC lifted its stake 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 valued at $8,712,000 after purchasing an additional 153,280 shares during the period. Hedge funds and other institutional investors 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.