Rice Hall James & Associates LLC Sells 774 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Rice Hall James & Associates LLC lessened its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,987 shares of the company’s stock after selling 774 shares during the period. Rice Hall James & Associates LLC’s holdings in Scholar Rock were worth $2,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in shares of Scholar Rock by 593.6% during the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock worth $5,879,000 after buying an additional 628,186 shares during the period. FMR LLC boosted its holdings in shares of Scholar Rock by 3.1% during the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after buying an additional 308,813 shares during the period. Sphera Funds Management LTD. bought a new stake in shares of Scholar Rock during the 3rd quarter worth about $1,337,000. abrdn plc boosted its holdings in shares of Scholar Rock by 28.2% during the 3rd quarter. abrdn plc now owns 748,489 shares of the company’s stock worth $5,995,000 after buying an additional 164,715 shares during the period. Finally, Exome Asset Management LLC bought a new stake in shares of Scholar Rock during the 3rd quarter worth about $1,115,000. Institutional investors own 91.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SRRK. Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a report on Wednesday, January 29th. Truist Financial lifted their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright lifted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Trading Down 0.3 %

Shares of Scholar Rock stock opened at $36.95 on Wednesday. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $42.02 and a two-hundred day simple moving average of $28.02.

Insiders Place Their Bets

In other news, CEO Jay T. Backstrom sold 22,308 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the transaction, the chief executive officer now directly owns 330,363 shares in the company, valued at approximately $14,602,044.60. The trade was a 6.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction that occurred 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 owns 67,200 shares of the company’s stock, 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. Insiders sold 458,974 shares of company stock worth $17,948,788 in the last quarter. 19.20% of the stock is currently owned by corporate insiders.

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.