Cibc World Markets Corp Acquires New Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

Cibc World Markets Corp bought a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) during the 4th quarter, Holdings Channel.com reports. The fund bought 7,254 shares of the company’s stock, valued at approximately $314,000.

A number of other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Scholar Rock by 51.8% in the 4th 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. Global Retirement Partners LLC increased its holdings in Scholar Rock by 584.7% during 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 during the last quarter. Nisa Investment Advisors LLC raised its position 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 worth $48,000 after acquiring an additional 1,031 shares during the period. Amalgamated Bank boosted its stake in shares of Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after acquiring an additional 620 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Scholar Rock during the 4th quarter valued at $131,000. 91.08% of the stock is currently owned by institutional investors.

Insider Transactions at Scholar Rock

In other news, CEO Jay T. Backstrom sold 22,308 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at $14,602,044.60. This represents a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jing L. Marantz sold 5,655 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 transaction of $249,951.00. Following the completion of the transaction, the insider now directly owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,272 shares of company stock valued at $11,030,778. 19.20% of the stock is currently owned by corporate insiders.

Scholar Rock Stock Up 2.3 %

NASDAQ SRRK opened at $33.81 on Tuesday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98. The stock’s 50 day moving average is $38.56 and its 200 day moving average is $32.55. The stock has a market cap of $3.20 billion, a PE ratio of -14.39 and a beta of 0.59.

Analyst Upgrades and Downgrades

SRRK has been the topic of a number of recent research reports. Truist Financial raised their target price on 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 $50.00 price objective on shares of Scholar Rock in a research note on Monday, March 17th. Finally, HC Wainwright boosted their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price 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.