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

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 142,292 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the completion of the sale, the chief financial officer now directly owns 111,345 shares of the company’s stock, valued at approximately $3,966,108.90. This represents a 56.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Scholar Rock Stock Performance

Shares of SRRK stock traded up $1.29 on Wednesday, hitting $35.79. The company had a trading volume of 776,508 shares, compared to its average volume of 1,162,875. The firm has a market cap of $3.39 billion, a P/E ratio of -15.23 and a beta of 0.59. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $39.87 and a 200-day moving average price of $30.99. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98.

Hedge Funds Weigh In On Scholar Rock

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after acquiring an additional 269 shares during the last quarter. Global Retirement Partners LLC boosted 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 buying an additional 766 shares during the period. Nisa Investment Advisors LLC lifted its stake 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 worth $48,000 after acquiring an additional 1,031 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Scholar Rock during the fourth quarter worth $85,000. Finally, Amalgamated Bank raised its holdings in Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SRRK shares. Truist Financial raised their price target on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. HC Wainwright upped 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. Finally, Wedbush reissued an “outperform” rating and set a $47.00 price target on shares of Scholar Rock in a report on Wednesday, January 29th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and a consensus 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.