Edward H. Myles Sells 7,809 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 7,809 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $287,605.47. Following the completion of the sale, the chief financial officer now directly owns 140,740 shares of the company’s stock, valued at approximately $5,183,454.20. This trade represents a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Scholar Rock Price Performance

NASDAQ SRRK opened at $37.70 on Friday. The business has a 50 day simple moving average of $41.81 and a 200 day simple moving average of $28.37. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week 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 stock has a market cap of $3.53 billion, a price-to-earnings ratio of -16.04 and a beta of 0.50.

Wall Street Analyst Weigh In

SRRK has been the subject of a number of recent analyst reports. HC Wainwright upped their price target on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial upped their price target on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Scholar Rock in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Scholar Rock has a consensus rating of “Buy” and a consensus target price of $40.43.

Institutional Trading of Scholar Rock

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Scholar Rock by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after acquiring an additional 379 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. Amalgamated Bank grew 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 in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 766 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

About Scholar Rock

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.