Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Sells $676,640.76 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CEO Jay T. Backstrom sold 18,372 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was 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 owns 311,991 shares of the company’s stock, valued at $11,490,628.53. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Scholar Rock Price Performance

NASDAQ:SRRK opened at $37.70 on Friday. The stock has a market cap of $3.53 billion, a P/E ratio of -16.04 and a beta of 0.50. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. The company has a fifty day moving average price of $41.81 and a 200 day moving average price of $28.51. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SRRK. HC Wainwright boosted their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wedbush reiterated an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, Truist Financial upped their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Scholar Rock presently has an average rating of “Buy” and an average target price of $40.43.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of SRRK. Mirae Asset Global Investments Co. Ltd. increased its holdings in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after buying an additional 514 shares during the period. GAMMA Investing LLC increased its holdings in Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after buying an additional 269 shares during the period. Quarry LP increased its holdings in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after buying an additional 4,373 shares during the period. Global Retirement Partners LLC increased its holdings in Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after buying an additional 766 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after buying an additional 1,031 shares during the period. Institutional investors own 91.08% of the company’s stock.

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.