Rice Hall James & Associates LLC Sells 774 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Rice Hall James & Associates LLC cut its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,987 shares of the company’s stock after selling 774 shares during the period. Rice Hall James & Associates LLC owned about 0.06% of Scholar Rock worth $2,420,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares during the period. JPMorgan Chase & Co. raised its holdings in Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after purchasing an additional 379 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Scholar Rock by 21.6% in the third 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 during the period. Nisa Investment Advisors LLC raised its holdings in shares of Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after acquiring an additional 1,031 shares during the period. Finally, Cinctive Capital Management LP raised its holdings in shares of Scholar Rock by 7.2% during the third quarter. Cinctive Capital Management LP now owns 42,902 shares of the company’s stock worth $344,000 after acquiring an additional 2,869 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Scholar Rock

In related news, CEO Jay T. Backstrom sold 22,308 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the transaction, the chief executive officer now owns 330,363 shares of the company’s stock, valued at approximately $14,602,044.60. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the transaction, the insider now directly 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 458,974 shares of company stock valued at $17,948,788. Corporate insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

Scholar Rock Stock Performance

Scholar Rock stock opened at $36.95 on Wednesday. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $46.98. The company has a fifty day simple moving average of $42.02 and a 200 day simple moving average of $28.02. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

About Scholar Rock

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.