Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom Sells 18,372 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom sold 18,372 shares of the company’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 $676,640.76. Following the completion of the transaction, the chief executive officer now owns 311,991 shares of the company’s stock, valued at approximately $11,490,628.53. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Scholar Rock Trading Up 3.0 %

Shares of SRRK traded up $1.14 during trading hours on Thursday, hitting $39.15. 670,911 shares of the stock were exchanged, compared to its average volume of 911,591. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The business has a 50-day moving average of $41.94 and a 200-day moving average of $28.09. The firm has a market capitalization of $3.67 billion, a P/E ratio of -16.66 and a beta of 0.50.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Truist Financial upped 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. 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. Finally, Wedbush reiterated an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $40.43.

Institutional Investors Weigh In On Scholar Rock

Several large investors have recently modified their holdings of SRRK. GAMMA Investing LLC boosted its stake in Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 766 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after acquiring an additional 1,031 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Scholar Rock during the fourth quarter worth $85,000. Finally, Amalgamated Bank boosted its stake in Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after acquiring an additional 620 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.