Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Sells 18,372 Shares of Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom sold 18,372 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $676,640.76. Following the completion of the transaction, the chief executive officer now owns 311,991 shares of the company’s stock, valued at approximately $11,490,628.53. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Scholar Rock Stock Down 3.7 %

Scholar Rock stock opened at $37.70 on Friday. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -16.04 and a beta of 0.50. The stock 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 12 month low of $6.76 and a 12 month high of $46.98. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SRRK shares. Wedbush reiterated an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a research note on Wednesday, January 29th. HC Wainwright lifted their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial lifted their price objective 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 research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $40.43.

Institutional Trading of Scholar Rock

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of Scholar Rock by 16.2% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted 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 valued at $4,027,000 after acquiring an additional 42,139 shares in the last quarter. Barclays PLC lifted 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 valued at $1,324,000 after acquiring an additional 84,118 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 valued at $759,000 after acquiring an additional 6,269 shares in the last quarter. Finally, Geode Capital Management LLC lifted 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 valued at $12,361,000 after acquiring an additional 120,489 shares in the last quarter. Institutional investors 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.