AlphaQuest LLC Cuts Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

AlphaQuest LLC decreased its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 97.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 917 shares of the company’s stock after selling 34,414 shares during the period. AlphaQuest LLC’s holdings in Scholar Rock were worth $40,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after buying an additional 269 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after buying an additional 766 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after buying an additional 1,031 shares in the last quarter. Amalgamated Bank increased its holdings in Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock valued at $114,000 after buying an additional 620 shares in the last quarter. Finally, KBC Group NV purchased a new position in Scholar Rock in the fourth quarter valued at $131,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Performance

SRRK opened at $33.64 on Friday. The firm has a market capitalization of $3.18 billion, a PE ratio of -14.31 and a beta of 0.59. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The firm’s 50-day moving average price is $38.89 and its 200 day moving average price is $31.88. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Buying and Selling

In related news, Director Katie Peng sold 1,006 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.42, for a total transaction of $34,626.52. Following the transaction, the director now directly owns 30,319 shares in the company, valued at approximately $1,043,579.98. The trade was a 3.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the transaction, the insider now owns 67,200 shares in the company, valued at $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,272 shares of company stock worth $11,030,778. 19.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SRRK. Truist Financial lifted their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. HC Wainwright lifted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research report on Monday. 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 company has an average rating of “Buy” and a consensus price target of $40.86.

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.