Soleus Capital Management L.P. Invests $7.24 Million in Scholar Rock Holding Co. (NASDAQ:SRRK)

Soleus Capital Management L.P. acquired a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 167,543 shares of the company’s stock, valued at approximately $7,241,000.

A number of other institutional investors have also modified their holdings of SRRK. JPMorgan Chase & Co. raised 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. Amalgamated Bank boosted its stake in Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock valued at $114,000 after acquiring an additional 620 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Scholar Rock by 16.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company’s stock valued at $350,000 after purchasing an additional 1,170 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

Insider Transactions at Scholar Rock

In related news, 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 value of $676,640.76. Following the transaction, the chief executive officer now owns 311,991 shares in the company, valued at approximately $11,490,628.53. This represents a 5.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward H. Myles sold 7,809 shares of Scholar Rock 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 $287,605.47. Following the sale, the chief financial officer now owns 140,740 shares of the company’s stock, valued at approximately $5,183,454.20. The trade was a 5.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,231 shares of company stock worth $9,220,236 over the last three months. 13.30% of the stock is currently owned by insiders.

Scholar Rock Trading Down 0.9%

NASDAQ SRRK opened at $30.55 on Monday. The stock has a market cap of $2.90 billion, a P/E ratio of -13.00 and a beta of 0.37. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The company has a fifty day simple moving average of $31.19 and a two-hundred day simple moving average of $35.96.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04). During the same period in the prior year, the firm posted ($0.59) earnings per share. On average, analysts forecast that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wedbush restated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research note on Wednesday, May 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $42.67.

Scholar Rock Company 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.