Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Sells $554,223.80 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $554,223.80. Following the sale, the chief financial officer now owns 148,549 shares in the company, valued at approximately $6,565,865.80. This represents a 7.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Scholar Rock Stock Down 2.8 %

Shares of Scholar Rock stock opened at $45.40 on Friday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The firm has a market capitalization of $4.25 billion, a PE ratio of -19.32 and a beta of 0.52. The stock’s fifty day moving average is $40.69 and its 200-day moving average is $23.90.

Analyst Ratings Changes

A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. upped their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wedbush reiterated an “outperform” rating and set a $47.00 price target on shares of Scholar Rock in a research report on Thursday, January 9th. Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright lifted their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Scholar Rock currently has an average rating of “Buy” and an average target price of $40.43.

Institutional Trading of Scholar Rock

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Scholar Rock by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 101,278 shares of the company’s stock valued at $844,000 after acquiring an additional 7,222 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Scholar Rock in the second quarter valued at $769,000. Hsbc Holdings PLC acquired a new stake in shares of Scholar Rock in the second quarter worth $100,000. Hood River Capital Management LLC grew its holdings in shares of Scholar Rock by 5.1% during the second quarter. Hood River Capital Management LLC now owns 832,792 shares of the company’s stock valued at $6,937,000 after buying an additional 40,745 shares in the last quarter. Finally, Integral Health Asset Management LLC raised its position in Scholar Rock by 23.1% during the second quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock valued at $3,332,000 after buying an additional 75,000 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.