Moody Aldrich Partners LLC Takes $1.20 Million Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Moody Aldrich Partners LLC bought a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) during the 4th quarter, Holdings Channel reports. The institutional investor bought 27,786 shares of the company’s stock, valued at approximately $1,201,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after buying an additional 514 shares during the period. GAMMA Investing LLC grew its stake in Scholar Rock by 51.8% during 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 increased its holdings in shares of Scholar Rock by 3,443.3% in the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Scholar Rock by 1,321.8% in the 4th 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. Finally, Hsbc Holdings PLC bought a new stake in Scholar Rock in the second quarter worth $100,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Trading Up 0.5 %

Shares of Scholar Rock stock opened at $42.56 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The firm’s 50 day simple moving average is $41.94 and its two-hundred day simple moving average is $24.97. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98.

Analyst Ratings Changes

SRRK has been the topic of several analyst reports. Truist Financial boosted their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. 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 report on Friday, October 11th. Piper Sandler upped their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a research note on Wednesday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Scholar Rock has a consensus rating of “Buy” and an average price target of $40.43.

Insider Activity

In other Scholar Rock news, CEO Jay T. Backstrom sold 22,308 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the sale, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at approximately $14,602,044.60. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 458,974 shares of company stock valued at $17,948,788. Company insiders own 19.20% 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.