BIT Capital GmbH Sells 456,530 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

BIT Capital GmbH trimmed its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 87.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,315 shares of the company’s stock after selling 456,530 shares during the period. BIT Capital GmbH’s holdings in Scholar Rock were worth $2,823,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SRRK. GAMMA Investing LLC boosted its position in shares of Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after buying an additional 269 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Scholar Rock by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after acquiring an additional 379 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock valued at $114,000 after acquiring an additional 620 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position 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 valued at $48,000 after purchasing an additional 1,031 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research report on Tuesday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and an average target price of $40.86.

Insider Buying and Selling at Scholar Rock

In other news, CEO Jay T. Backstrom sold 22,308 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the completion of the sale, the chief executive officer now owns 330,363 shares of the company’s stock, valued at $14,602,044.60. The trade was a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Edward H. Myles sold 12,539 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $554,223.80. Following the completion of the transaction, the chief financial officer now directly owns 148,549 shares in the company, valued at approximately $6,565,865.80. This represents a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 299,772 shares of company stock valued at $11,245,798. Insiders own 19.20% of the company’s stock.

Scholar Rock Price Performance

NASDAQ SRRK opened at $32.16 on Thursday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.04 billion, a P/E ratio of -13.69 and a beta of 0.59. The company has a 50-day moving average price of $38.15 and a 200-day moving average price of $32.72. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98.

Scholar Rock 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.