Mo Qatanani Sells 68,510 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) insider Mo Qatanani sold 68,510 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the transaction, the insider now owns 111,084 shares in the company, valued at $4,154,541.60. The trade was a 38.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Scholar Rock Stock Down 3.7 %

Shares of NASDAQ SRRK opened at $37.70 on Friday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The firm’s fifty day moving average is $41.81 and its 200 day moving average is $28.37. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -16.04 and a beta of 0.50.

Analysts Set New Price Targets

SRRK has been the topic of a number of recent research reports. Truist Financial increased their price target 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. HC Wainwright increased their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Wedbush reiterated an “outperform” rating and set a $47.00 price target on shares of Scholar Rock in a research report on Wednesday, January 29th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Scholar Rock currently has an average rating of “Buy” and an average price target of $40.43.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares during the period. GAMMA Investing LLC boosted its holdings in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after acquiring an additional 269 shares in the last quarter. Quarry LP boosted its holdings in Scholar Rock by 3,443.3% in the third quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after acquiring an additional 4,373 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after acquiring an additional 766 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after acquiring an additional 1,031 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.