Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles Sells 7,809 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 7,809 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 directly owns 140,740 shares in the company, valued at $5,183,454.20. This trade represents a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Scholar Rock Price Performance

NASDAQ:SRRK traded up $1.14 during mid-day trading on Thursday, hitting $39.15. 670,911 shares of the company’s stock traded hands, compared to its average volume of 911,591. 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 200 day simple moving average is $28.09. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a market cap of $3.67 billion, a PE ratio of -16.66 and a beta of 0.50.

Wall Street Analyst Weigh In

SRRK has been the subject of a number of research reports. Wedbush restated an “outperform” rating and issued a $47.00 price objective on shares of Scholar Rock in a report on Wednesday, January 29th. Truist Financial boosted their price objective 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 target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $40.43.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds have recently added to or reduced their stakes in SRRK. Wellington Management Group LLP grew its holdings in shares of Scholar Rock by 16.2% during the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after buying an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Scholar Rock by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after acquiring an additional 42,139 shares during the last quarter. Barclays PLC boosted its position in shares of Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after acquiring an additional 84,118 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Scholar Rock by 7.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock worth $759,000 after acquiring an additional 6,269 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after buying an additional 120,489 shares in the last quarter. 91.08% of the stock is currently 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.