Scholar Rock Holding Co. (NASDAQ:SRRK) Director Sells $34,626.52 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) Director Katie Peng sold 1,006 shares of Scholar Rock stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.42, for a total transaction of $34,626.52. Following the completion of the transaction, the director now directly owns 30,319 shares of the company’s stock, valued at approximately $1,043,579.98. This represents a 3.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $33.05 on Friday. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The firm’s 50-day simple moving average is $38.74 and its 200 day simple moving average is $32.04. 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 stock has a market cap of $3.13 billion, a P/E ratio of -14.06 and a beta of 0.59.

Analysts Set New Price Targets

A number of equities analysts have commented on SRRK shares. HC Wainwright lifted their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wedbush reiterated an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Monday, March 17th. Finally, Truist Financial raised their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $40.86.

Institutional Investors Weigh In On Scholar Rock

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in shares of Scholar Rock by 30.1% during the fourth quarter. California State Teachers Retirement System now owns 56,269 shares of the company’s stock valued at $2,432,000 after purchasing an additional 13,015 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Scholar Rock during the fourth quarter worth about $212,000. GF Fund Management CO. LTD. acquired a new position in Scholar Rock during the fourth quarter worth about $85,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in Scholar Rock during the fourth quarter worth about $16,680,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Scholar Rock by 42.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company’s stock worth $5,845,000 after acquiring an additional 40,436 shares during the period. 91.08% of the stock is currently owned by institutional investors.

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.