Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Sells $676,640.76 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom sold 18,372 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $676,640.76. Following the completion of the sale, the chief executive officer now directly owns 311,991 shares in the company, valued at approximately $11,490,628.53. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Scholar Rock Stock Down 3.7 %

Shares of NASDAQ:SRRK 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’s 50-day moving average price is $41.81 and its two-hundred day moving average price is $28.51. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.53 billion, a P/E ratio of -16.04 and a beta of 0.50.

Institutional Investors Weigh In On Scholar Rock

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Scholar Rock by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock valued at $1,600,000 after purchasing an additional 27,801 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Scholar Rock by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after purchasing an additional 42,139 shares during the period. Barclays PLC lifted its position in Scholar Rock by 103.4% during the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock valued at $1,324,000 after purchasing an additional 84,118 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Scholar Rock by 7.1% during the 3rd 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 purchasing an additional 6,269 shares during the period. Finally, Geode Capital Management LLC lifted its position in Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after purchasing an additional 120,489 shares during the period. Institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SRRK. Truist Financial upped their target price 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. Wedbush reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a report on Wednesday, January 29th. Finally, HC Wainwright upped their target price 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 company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $40.43.

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.