Monashee Investment Management LLC Takes Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Monashee Investment Management LLC purchased a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 45,000 shares of the company’s stock, valued at approximately $1,945,000. Scholar Rock accounts for about 0.3% of Monashee Investment Management LLC’s holdings, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after acquiring an additional 379 shares in the last quarter. Amalgamated Bank lifted its stake in Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after acquiring an additional 620 shares during the period. Global Retirement Partners LLC grew its holdings in 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. Finally, Nisa Investment Advisors LLC raised its holdings in shares of 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 purchasing an additional 1,031 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling

In other news, insider Tracey Sacco sold 5,000 shares of the business’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $32.83, for a total transaction of $164,150.00. Following the sale, the insider now owns 71,750 shares in the company, valued at approximately $2,355,552.50. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay T. Backstrom sold 18,372 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total transaction of $676,640.76. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 255,231 shares of company stock worth $9,220,236 in the last ninety days. 13.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated an “outperform” rating and set a $50.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Scholar Rock has a consensus rating of “Buy” and a consensus target price of $42.67.

Scholar Rock Price Performance

Shares of SRRK opened at $32.77 on Wednesday. The company has a 50 day moving average of $32.51 and a two-hundred day moving average of $35.74. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -13.94 and a beta of 0.56. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98.

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.