Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 19.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,164 shares of the company’s stock after selling 27,891 shares during the period. Fisher Asset Management LLC’s holdings in Scholar Rock were worth $2,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank increased its stake in Scholar Rock by 52.8% during the third quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock worth $30,000 after acquiring an additional 1,458 shares during the last quarter. Silverarc Capital Management LLC purchased a new stake in Scholar Rock in the 3rd quarter valued at about $69,000. State Board of Administration of Florida Retirement System acquired a new position in Scholar Rock in the third quarter valued at about $88,000. SG Americas Securities LLC purchased a new position in Scholar Rock during the third quarter worth about $153,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Scholar Rock by 479.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock valued at $157,000 after acquiring an additional 6,905 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SRRK. Wedbush restated an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a report on Tuesday. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a research report on Wednesday. Raymond James started coverage on Scholar Rock in a report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price objective on the stock. Piper Sandler restated an “overweight” rating and set a $28.00 target price on shares of Scholar Rock in a report on Tuesday, March 26th. Finally, Truist Financial reiterated a “buy” rating and set a $20.00 price target on shares of Scholar Rock in a research note on Wednesday, April 3rd. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and a consensus target price of $25.17.

Insider Transactions at Scholar Rock

In other Scholar Rock news, CEO Jay T. Backstrom sold 11,614 shares of Scholar Rock stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $182,804.36. Following the completion of the sale, the chief executive officer now directly owns 352,671 shares of the company’s stock, valued at approximately $5,551,041.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Scholar Rock news, CFO Edward H. Myles sold 4,744 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $74,670.56. Following the completion of the transaction, the chief financial officer now owns 210,976 shares in the company, valued at $3,320,762.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay T. Backstrom sold 11,614 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $182,804.36. Following the completion of the sale, the chief executive officer now directly owns 352,671 shares of the company’s stock, valued at $5,551,041.54. The disclosure for this sale can be found here. In the last three months, insiders sold 22,359 shares of company stock valued at $351,931. Insiders own 26.20% of the company’s stock.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $14.50 on Thursday. The stock’s 50-day moving average is $15.15 and its two-hundred day moving average is $14.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -7.29 and a beta of 0.94. Scholar Rock Holding Co. has a 1-year low of $5.56 and a 1-year high of $21.17.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same period in the prior year, the firm posted ($0.46) EPS. Analysts forecast that Scholar Rock Holding Co. will post -2.01 EPS for the current fiscal year.

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.