BIT Capital GmbH Decreases Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

BIT Capital GmbH trimmed its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 87.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,315 shares of the company’s stock after selling 456,530 shares during the period. BIT Capital GmbH owned about 0.07% of Scholar Rock worth $2,823,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Scholar Rock by 17.6% during the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock valued at $205,013,000 after acquiring an additional 708,817 shares during the period. American Century Companies Inc. purchased a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $28,394,000. Fisher Asset Management LLC boosted its stake in shares of Scholar Rock by 593.6% during the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock valued at $5,879,000 after purchasing an additional 628,186 shares during the period. FMR LLC grew its holdings in shares of Scholar Rock by 3.1% in the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after purchasing an additional 308,813 shares during the last quarter. Finally, Sphera Funds Management LTD. purchased a new position in shares of Scholar Rock in the third quarter worth $1,337,000. 91.08% of the stock is owned by institutional investors.

Insider Activity at Scholar Rock

In other news, CFO Edward H. Myles sold 12,539 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the sale, the chief financial officer now directly owns 148,549 shares of the company’s stock, valued at $6,565,865.80. This represents a 7.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jing L. Marantz sold 5,655 shares of the 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 completion of the transaction, the insider now owns 67,200 shares of the company’s stock, valued at approximately $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 have sold 299,772 shares of company stock worth $11,245,798 over the last 90 days. 19.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wedbush reissued an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a report on Tuesday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $40.86.

Scholar Rock Stock Down 3.4 %

Shares of Scholar Rock stock opened at $32.16 on Thursday. The company’s fifty day simple moving average is $38.15 and its two-hundred day simple moving average is $32.72. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-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 market cap of $3.04 billion, a P/E ratio of -13.69 and a beta of 0.59.

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.