Scholar Rock Holding Co. (NASDAQ:SRRK) Major Shareholder Sells $15,759,076.17 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the transaction, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Scholar Rock Stock Up 2.9 %

NASDAQ:SRRK opened at $38.15 on Friday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -16.23 and a beta of 0.47. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $43.38. The stock has a 50-day simple moving average of $24.29 and a 200 day simple moving average of $14.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Hedge Funds Weigh In On Scholar Rock

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after acquiring an additional 514 shares during the period. Quarry LP boosted its stake in Scholar Rock by 3,443.3% in the third quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after acquiring an additional 4,373 shares during the period. Principal Financial Group Inc. acquired a new position in Scholar Rock in the second quarter valued at approximately $98,000. Hsbc Holdings PLC acquired a new position in Scholar Rock in the second quarter valued at approximately $100,000. Finally, Point72 DIFC Ltd acquired a new position in Scholar Rock in the second quarter valued at approximately $103,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on SRRK. JPMorgan Chase & Co. raised their price objective on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets raised 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. Wedbush raised their price objective on Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday. HC Wainwright raised their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Truist Financial raised their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus 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.