Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Sold by Redmile Group LLC

Redmile Group LLC decreased its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,238,837 shares of the company’s stock after selling 214,246 shares during the quarter. Scholar Rock accounts for approximately 2.5% of Redmile Group LLC’s portfolio, making the stock its 16th largest position. Redmile Group LLC owned about 5.60% of Scholar Rock worth $41,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SRRK. Vanguard Group Inc. raised its position in Scholar Rock by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after purchasing an additional 114,550 shares during the period. Jane Street Group LLC raised its position in Scholar Rock by 95.5% in the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock valued at $4,339,000 after purchasing an additional 119,363 shares during the period. DNB Asset Management AS raised its position in Scholar Rock by 28.5% in the second quarter. DNB Asset Management AS now owns 19,812 shares of the company’s stock valued at $165,000 after purchasing an additional 4,390 shares during the period. Values First Advisors Inc. purchased a new stake in Scholar Rock in the second quarter valued at approximately $216,000. Finally, Bank of New York Mellon Corp raised its position in Scholar Rock by 17.0% in the second quarter. Bank of New York Mellon Corp now owns 230,450 shares of the company’s stock valued at $1,920,000 after purchasing an additional 33,468 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Trading Up 1.0 %

NASDAQ:SRRK opened at $39.77 on Thursday. The business’s fifty day moving average price is $27.32 and its 200 day moving average price is $15.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $43.38.

Insider Activity at Scholar Rock

In other Scholar Rock news, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the transaction, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. This represents a 37.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company’s 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 of the company’s stock, valued at $417,616,692.45. This represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,823,322 shares of company stock valued at $56,411,627 over the last quarter. 19.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on SRRK shares. Wedbush boosted their target price on Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. HC Wainwright upped their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, BMO Capital Markets upped their price objective on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Scholar Rock currently has an average 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.