Quarry LP Acquires 4,373 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Quarry LP raised its stake in Scholar Rock Holding Co. (NASDAQ:SRRK) by 3,443.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,500 shares of the company’s stock after acquiring an additional 4,373 shares during the period. Quarry LP’s holdings in Scholar Rock were worth $36,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 valued at $25,000 after buying an additional 514 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in Scholar Rock by 3.6% during the second quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after purchasing an additional 1,594 shares during the last quarter. ClariVest Asset Management LLC increased its stake in shares of Scholar Rock by 3.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock valued at $497,000 after purchasing an additional 1,718 shares during the last quarter. Cinctive Capital Management LP raised its holdings in shares of Scholar Rock by 7.2% during the 3rd quarter. Cinctive Capital Management LP now owns 42,902 shares of the company’s stock worth $344,000 after buying an additional 2,869 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Scholar Rock by 34.7% during the 2nd quarter. Algert Global LLC now owns 16,695 shares of the company’s stock worth $139,000 after buying an additional 4,305 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction that occurred 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 transaction, the insider now owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tracey Sacco sold 30,000 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares of the company’s stock, valued at $1,262,681.70. The trade was a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,823,322 shares of company stock worth $56,411,627. 19.20% of the stock is currently owned by company insiders.

Scholar Rock Stock Down 5.3 %

Shares of NASDAQ:SRRK opened at $42.18 on Thursday. The business’s 50-day moving average is $30.87 and its 200-day moving average is $16.54. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.19. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -17.95 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Analyst Upgrades and Downgrades

Several research analysts have commented on SRRK shares. Wedbush boosted their target price on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Truist Financial increased their price target on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. boosted their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets boosted their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Finally, HC Wainwright raised 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. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $40.43.

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.