SG Americas Securities LLC Makes New Investment in Scholar Rock Holding Co. (NASDAQ:SRRK)

SG Americas Securities LLC purchased a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 136,507 shares of the company’s stock, valued at approximately $1,093,000.

Other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC lifted its stake in Scholar Rock by 95.5% in the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock valued at $4,339,000 after acquiring an additional 119,363 shares during the last quarter. Kennedy Capital Management LLC bought a new position in shares of Scholar Rock in the first quarter valued at about $4,900,000. Clearbridge Investments LLC acquired a new stake in Scholar Rock during the second quarter worth approximately $6,223,000. Vanguard Group Inc. lifted its holdings in Scholar Rock by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after purchasing an additional 114,550 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Scholar Rock by 16.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after buying an additional 1,149,519 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

SRRK has been the topic of a number of analyst reports. HC Wainwright increased their target price on shares of Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on Scholar Rock from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. BMO Capital Markets raised their target price on shares of Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Wedbush lifted their price target on shares of Scholar Rock from $27.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $27.75.

Scholar Rock Price Performance

Shares of SRRK opened at $26.14 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. Scholar Rock Holding Co. has a 52-week low of $6.48 and a 52-week high of $35.38. The business’s 50 day moving average price is $10.35 and its two-hundred day moving average price is $11.09. The firm has a market cap of $2.08 billion, a PE ratio of -12.51 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.01. During the same period in the prior year, the business posted ($0.47) earnings per share. On average, equities analysts anticipate that Scholar Rock Holding Co. will post -2.39 EPS for the current year.

Insider Transactions at Scholar Rock

In other news, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the sale, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at $4,278,497.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Tracey Sacco sold 30,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the completion of the transaction, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the transaction, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at $4,278,497.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,415,340 shares of company stock valued at $40,666,088 over the last three months. Corporate insiders own 26.20% of the company’s stock.

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.