Jay T. Backstrom Sells 18,372 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom sold 18,372 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total transaction of $676,640.76. Following the completion of the sale, the chief executive officer now directly owns 311,991 shares of the company’s stock, valued at $11,490,628.53. This represents a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Scholar Rock Price Performance

Shares of Scholar Rock stock traded up $1.14 on Thursday, reaching $39.15. 670,911 shares of the stock were exchanged, compared to its average volume of 911,591. The firm’s 50 day moving average is $41.94 and its 200-day moving average is $28.09. Scholar Rock Holding Co. has a one year low of $6.76 and a one year 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 $3.67 billion, a PE ratio of -16.66 and a beta of 0.50.

Wall Street Analysts Forecast Growth

SRRK has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. HC Wainwright boosted 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 reissued an “outperform” rating and issued a $47.00 price objective on shares of Scholar Rock in a report on Wednesday, January 29th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $40.43.

Institutional Trading of Scholar Rock

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Scholar Rock by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after purchasing an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Scholar Rock by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after purchasing an additional 42,139 shares in the last quarter. Barclays PLC increased its position in Scholar Rock by 103.4% during the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after purchasing an additional 84,118 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Scholar Rock by 7.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock worth $759,000 after purchasing an additional 6,269 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after purchasing an additional 120,489 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

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.