Silverarc Capital Management LLC Acquires New Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Silverarc Capital Management LLC purchased a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 183,243 shares of the company’s stock, valued at approximately $7,920,000. Scholar Rock makes up about 1.7% of Silverarc Capital Management LLC’s investment portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Scholar Rock by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after buying an additional 379 shares in the last quarter. Amalgamated Bank lifted its stake in 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 period. Global Retirement Partners LLC grew its stake in shares of Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 766 shares during the period. 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. Institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush reiterated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research note on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $42.67.

Insiders Place Their Bets

In other Scholar Rock news, CFO Edward H. Myles sold 142,292 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the transaction, the chief financial officer now directly owns 111,345 shares in the company, valued at $3,966,108.90. This represents a 56.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tracey Sacco sold 6,500 shares of Scholar Rock stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $33.08, for a total transaction of $215,020.00. Following the sale, the insider now owns 71,750 shares in the company, valued at approximately $2,373,490. The trade was a 8.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,231 shares of company stock worth $9,056,086 over the last three months. 19.20% of the stock is currently owned by company insiders.

Scholar Rock Stock Performance

Shares of SRRK opened at $29.81 on Tuesday. The business has a 50-day simple moving average of $33.11 and a two-hundred day simple moving average of $35.63. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -12.69 and a beta of 0.56. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98.

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.