Mo Qatanani Sells 68,510 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) insider Mo Qatanani sold 68,510 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the completion of the transaction, the insider now directly owns 111,084 shares in the company, valued at $4,154,541.60. This trade represents a 38.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Scholar Rock Trading Down 3.7 %

Shares of Scholar Rock stock opened at $37.70 on Friday. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -16.04 and a beta of 0.50. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $41.81 and its 200-day moving average price is $28.37.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently modified their holdings of SRRK. Wellington Management Group LLP increased its position in shares of Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after purchasing an additional 27,801 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Scholar Rock by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after purchasing an additional 42,139 shares during the last quarter. Barclays PLC increased its position in shares of Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after purchasing an additional 84,118 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Scholar Rock by 7.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock worth $759,000 after purchasing an additional 6,269 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after purchasing an additional 120,489 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other 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.