Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Sold by Quest Partners LLC

Quest Partners LLC lowered its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 42.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,331 shares of the company’s stock after selling 25,698 shares during the quarter. Quest Partners LLC’s holdings in Scholar Rock were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SRRK. Mirae Asset Global Investments Co. Ltd. lifted its position in Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after acquiring an additional 514 shares during the last quarter. Walleye Trading LLC purchased a new stake in shares of Scholar Rock in the 1st quarter valued at about $178,000. Principal Financial Group Inc. acquired a new stake in shares of Scholar Rock in the 2nd quarter valued at about $98,000. Hsbc Holdings PLC purchased a new position in Scholar Rock during the 2nd quarter worth approximately $100,000. Finally, Point72 DIFC Ltd acquired a new position in Scholar Rock during the second quarter worth approximately $103,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Stock Up 26.1 %

Scholar Rock stock opened at $37.72 on Tuesday. The stock’s 50 day moving average price is $23.12 and its 200 day moving average price is $14.21. The company has a market cap of $3.53 billion, a PE ratio of -16.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $43.38.

Insiders Place Their Bets

In related news, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the sale, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. This represents a 37.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the transaction, the director now directly owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This represents a 17.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,413,889 shares of company stock worth $40,652,551. Corporate insiders own 19.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wedbush increased their price objective on Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets upped their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Piper Sandler raised their price target on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. 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 MarketBeat, Scholar Rock has an average rating of “Buy” and an average target price of $39.00.

Scholar Rock 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.