Edward H. Myles Sells 7,809 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 7,809 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $287,605.47. Following the transaction, the chief financial officer now directly owns 140,740 shares of the company’s stock, valued at $5,183,454.20. This represents a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Scholar Rock Trading Down 3.7 %

Shares of Scholar Rock stock opened at $37.70 on Friday. The business has a fifty day simple moving average of $41.81 and a two-hundred day simple moving average of $28.37. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -16.04 and a beta of 0.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Analyst Upgrades and Downgrades

SRRK has been the subject of several recent analyst reports. Truist Financial increased their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wedbush reissued an “outperform” rating and issued a $47.00 price objective on shares of Scholar Rock in a report on Wednesday, January 29th. Finally, HC Wainwright increased their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Scholar Rock has a consensus rating of “Buy” and a consensus price target of $40.43.

Institutional Investors Weigh In On Scholar Rock

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after purchasing an additional 269 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Scholar Rock by 584.7% during the 4th 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. Nisa Investment Advisors LLC increased its position in Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after buying an additional 1,031 shares during the period. GF Fund Management CO. LTD. bought a new position in Scholar Rock during the 4th quarter worth $85,000. Finally, Amalgamated Bank increased its position in Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after buying an additional 620 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.