Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) Major Shareholder Sells 409,433 Shares of 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 transaction of $15,759,076.17. Following the sale, the insider now owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Scholar Rock Trading Up 2.9 %

Shares of Scholar Rock stock traded up $1.09 during trading on Wednesday, reaching $38.15. The company’s stock had a trading volume of 757,866 shares, compared to its average volume of 1,152,048. The firm’s 50-day moving average is $23.69 and its two-hundred day moving average is $14.37. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $43.38. 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 company has a market cap of $3.57 billion, a price-to-earnings ratio of -15.84 and a beta of 0.47.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SRRK. Piper Sandler increased their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial increased their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Wedbush raised their price objective on shares of Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, HC Wainwright lifted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday. Six investment 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, the stock currently has a consensus rating of “Buy” and an average target price of $40.43.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SRRK. Mirae Asset Global Investments Co. Ltd. raised its holdings in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Quarry LP raised its holdings in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Scholar Rock in the 2nd quarter worth about $98,000. Hsbc Holdings PLC bought a new position in shares of Scholar Rock in the 2nd quarter worth about $100,000. Finally, Point72 DIFC Ltd bought a new position in shares of Scholar Rock in the 2nd quarter worth about $103,000. 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.