Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles Sells 142,292 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 142,292 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the transaction, the chief financial officer now owns 111,345 shares in the company, valued at approximately $3,966,108.90. This trade represents a 56.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Scholar Rock Price Performance

Scholar Rock stock opened at $35.79 on Thursday. The stock’s fifty day moving average price is $39.87 and its two-hundred day moving average price is $30.99. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. 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 firm has a market cap of $3.39 billion, a PE ratio of -15.23 and a beta of 0.59.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently added to or reduced their stakes in SRRK. GAMMA Investing LLC increased its stake in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the period. Quarry LP increased its stake in Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after acquiring an additional 4,373 shares during the period. Global Retirement Partners LLC increased its stake in shares of Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Scholar Rock in the 4th quarter valued at $85,000. Institutional investors own 91.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SRRK. Wedbush reiterated an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research note on Wednesday, January 29th. HC Wainwright increased their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial increased their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and an average price target of $40.43.

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.