Scholar Rock Holding Co. (NASDAQ:SRRK) Major Shareholder Public Equities L.P. Invus Sells 409,433 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Scholar Rock Stock Up 2.9 %

SRRK stock opened at $38.15 on Thursday. 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 stock has a market cap of $3.57 billion, a P/E ratio of -16.23 and a beta of 0.47. The company’s 50 day moving average is $23.69 and its two-hundred day moving average is $14.37. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $43.38.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SRRK. JPMorgan Chase & Co. raised their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Piper Sandler raised their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. 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. HC Wainwright raised their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wedbush raised their price objective on shares of Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $40.43.

Hedge Funds Weigh In On Scholar Rock

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Scholar Rock by 21.6% during the third 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 during the last quarter. Quarry LP grew its position in shares of Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after acquiring an additional 4,373 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Scholar Rock during the second quarter worth approximately $98,000. Hsbc Holdings PLC purchased a new position in shares of Scholar Rock during the second quarter worth approximately $100,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Scholar Rock during the second quarter worth approximately $103,000. 91.08% of the stock is currently owned by hedge funds and other 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.