Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom Sells 22,308 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $986,013.60. Following the sale, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at $14,602,044.60. This represents a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Scholar Rock Price Performance

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

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Rhumbline Advisers boosted its stake in Scholar Rock by 7.7% in the 2nd 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 acquired a new position in shares of Scholar Rock during the 2nd quarter worth about $769,000. Hsbc Holdings PLC acquired a new position in shares of Scholar Rock during the 2nd quarter worth about $100,000. Hood River Capital Management LLC boosted its stake in shares of Scholar Rock by 5.1% during the 2nd quarter. Hood River Capital Management LLC now owns 832,792 shares of the company’s stock worth $6,937,000 after buying an additional 40,745 shares during the last quarter. Finally, Integral Health Asset Management LLC boosted its stake in shares of Scholar Rock by 23.1% during the 2nd quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock worth $3,332,000 after buying an additional 75,000 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SRRK has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on shares of 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 upped their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. upped their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. HC Wainwright upped their price objective 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. Finally, Wedbush restated an “outperform” rating and issued a $47.00 price objective on shares of Scholar Rock in a research report on Thursday, January 9th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $40.43.

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.