SG Americas Securities LLC Sells 114,797 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

SG Americas Securities LLC lowered its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 84.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,710 shares of the company’s stock after selling 114,797 shares during the quarter. SG Americas Securities LLC’s holdings in Scholar Rock were worth $938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SRRK. FMR LLC grew its holdings in shares of Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock valued at $81,670,000 after buying an additional 308,813 shares during the last quarter. Geode Capital Management LLC boosted its stake in Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after purchasing an additional 120,489 shares during the last quarter. Millennium Management LLC increased its holdings in Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after purchasing an additional 568,512 shares in the last quarter. abrdn plc raised its stake in shares of Scholar Rock by 28.2% in the third quarter. abrdn plc now owns 748,489 shares of the company’s stock worth $5,995,000 after purchasing an additional 164,715 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of Scholar Rock in the second quarter valued at approximately $6,223,000. Institutional investors own 91.08% of the company’s stock.

Insider Activity at Scholar Rock

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the transaction, the insider now directly owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Edward H. Myles sold 12,539 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was 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 in the company, valued at $6,565,865.80. The trade was a 7.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 458,974 shares of company stock worth $17,948,788 over the last 90 days. 19.20% of the stock is owned by company insiders.

Scholar Rock Price Performance

Shares of Scholar Rock stock opened at $42.34 on Wednesday. The business has a 50 day moving average of $41.64 and a 200 day moving average of $24.85. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The company has a market cap of $3.96 billion, a PE ratio of -18.02 and a beta of 0.52. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Analyst Ratings Changes

Several brokerages recently issued reports on SRRK. HC Wainwright upped their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. BMO Capital Markets upped their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Truist Financial raised their price target 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. Piper Sandler upped their price objective 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, Wedbush reissued an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research report on Thursday, January 9th. Six investment 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, the stock currently has an average rating of “Buy” and an average target price 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.