Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles Sells 12,539 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction on 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 directly owns 148,549 shares of the company’s stock, valued at $6,565,865.80. This trade represents a 7.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Scholar Rock Price Performance

Shares of Scholar Rock stock opened at $45.40 on Friday. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $46.98. The firm has a fifty day simple moving average of $40.69 and a 200-day simple moving average of $23.90. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -19.32 and a beta of 0.52.

Institutional Investors Weigh In On Scholar Rock

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BMO Capital Markets lifted their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Truist Financial boosted their price target on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a research report on Thursday, January 9th. Piper Sandler boosted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, HC Wainwright raised their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus 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.