Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Sells 7,809 Shares of Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 7,809 shares of Scholar Rock stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $287,605.47. Following the completion of the sale, the chief financial officer now owns 140,740 shares of the company’s stock, valued at approximately $5,183,454.20. This trade represents a 5.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Scholar Rock Price Performance

NASDAQ SRRK traded up $1.14 on Thursday, reaching $39.15. The company’s stock had a trading volume of 670,911 shares, compared to its average volume of 911,591. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. 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 stock has a market cap of $3.67 billion, a PE ratio of -16.66 and a beta of 0.50. The firm’s 50 day moving average is $41.94 and its two-hundred day moving average is $28.09.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SRRK shares. Wedbush restated an “outperform” rating and issued a $47.00 price target on shares of Scholar Rock in a research note on Wednesday, January 29th. Truist Financial upped their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright upped their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.43.

Institutional Trading of Scholar Rock

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 period. GAMMA Investing LLC increased its holdings in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the last quarter. Quarry LP increased its holdings in 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 buying an additional 4,373 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after buying an additional 766 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings 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 buying an additional 1,031 shares during the last quarter. 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.