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 Scholar Rock stock in a transaction on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the transaction, the insider now owns 10,850,005 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Scholar Rock Price Performance

Scholar Rock stock opened at $38.15 on Thursday. The company has a market cap of $3.57 billion, a P/E ratio of -16.23 and a beta of 0.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $43.38. The business has a fifty day moving average of $23.69 and a two-hundred day moving average of $14.37.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SRRK. Wedbush lifted their price objective on shares of Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday. Truist Financial lifted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets lifted their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Piper Sandler raised their target price on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, HC Wainwright raised their target price on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $40.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SRRK. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Scholar Rock by 21.6% during the 3rd 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 last quarter. Quarry LP raised its stake in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after purchasing an additional 4,373 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Scholar Rock in the 2nd quarter valued at about $98,000. Hsbc Holdings PLC acquired a new position in Scholar Rock in the 2nd quarter valued at about $100,000. Finally, Point72 DIFC Ltd acquired a new position in Scholar Rock in the 2nd quarter valued at about $103,000. 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.