Edward H. Myles Sells 12,539 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 12,539 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $554,223.80. Following the sale, the chief financial officer now owns 148,549 shares in the company, valued at approximately $6,565,865.80. This trade represents a 7.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Scholar Rock Stock Up 4.1 %

Scholar Rock stock opened at $46.73 on Thursday. The company has a market capitalization of $4.37 billion, a P/E ratio of -19.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.81. The stock has a 50-day simple moving average of $40.33 and a 200-day simple moving average of $23.75.

Institutional Investors Weigh In On Scholar Rock

Several large investors have recently modified their holdings of SRRK. Wellington Management Group LLP boosted its stake 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 during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Scholar Rock by 9.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after buying an additional 42,139 shares during the period. Barclays PLC grew its holdings in shares of Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after buying an additional 84,118 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Scholar Rock during the 2nd quarter valued at approximately $6,223,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 valued at $759,000 after acquiring an additional 6,269 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on SRRK shares. BMO Capital Markets raised their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Truist Financial raised 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. Piper Sandler boosted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. HC Wainwright lifted their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. increased their price objective on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $40.43.

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.