Exchange Traded Concepts LLC Sells 82,792 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Exchange Traded Concepts LLC lessened its holdings in Scholar Rock Holding Co. (NASDAQ:SRRKFree Report) by 81.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,887 shares of the company’s stock after selling 82,792 shares during the period. Exchange Traded Concepts LLC’s holdings in Scholar Rock were worth $816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SRRK. Renaissance Technologies LLC bought a new position in shares of Scholar Rock in the 2nd quarter worth approximately $769,000. Hsbc Holdings PLC bought a new position in shares of Scholar Rock in the 2nd quarter worth approximately $100,000. Marshall Wace LLP lifted its stake in shares of Scholar Rock by 1,051.3% in the 2nd quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after purchasing an additional 444,961 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Scholar Rock by 1,289.6% in the 2nd quarter. Squarepoint Ops LLC now owns 145,060 shares of the company’s stock worth $1,208,000 after purchasing an additional 134,621 shares during the period. Finally, AQR Capital Management LLC raised its stake in Scholar Rock by 287.2% during the 2nd quarter. AQR Capital Management LLC now owns 39,754 shares of the company’s stock worth $331,000 after acquiring an additional 29,487 shares during the period. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Trading Up 0.5 %

SRRK stock opened at $42.56 on Thursday. The firm has a fifty day moving average price of $41.94 and a 200 day moving average price of $24.97. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a market cap of $3.98 billion, a PE ratio of -18.11 and a beta of 0.52.

Analysts Set New Price Targets

A number of research firms have commented on SRRK. BMO Capital Markets raised their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Truist Financial raised their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler raised their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. HC Wainwright increased 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. Finally, Wedbush reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a report on Wednesday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $40.43.

Get Our Latest Report on SRRK

Insider Activity at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock 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 $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $986,013.60. Following the transaction, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 458,974 shares of company stock valued at $17,948,788. 19.20% of the stock is owned by corporate insiders.

About Scholar Rock

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SRRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scholar Rock Holding Co. (NASDAQ:SRRKFree Report).

Institutional Ownership by Quarter for Scholar Rock (NASDAQ:SRRK)

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