SG Americas Securities LLC Increases Position in Scholar Rock Holding Corporation (NASDAQ:SRRK)

SG Americas Securities LLC grew its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,122 shares of the company’s stock after buying an additional 2,412 shares during the quarter. SG Americas Securities LLC’s holdings in Scholar Rock were worth $776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers lifted its position in Scholar Rock by 13.2% during the fourth quarter. Rhumbline Advisers now owns 113,261 shares of the company’s stock valued at $4,895,000 after purchasing an additional 13,247 shares during the period. Principal Financial Group Inc. bought a new stake in Scholar Rock in the 4th quarter valued at $274,000. New York State Common Retirement Fund grew its stake in shares of Scholar Rock by 117.5% in the 4th quarter. New York State Common Retirement Fund now owns 22,586 shares of the company’s stock worth $976,000 after buying an additional 12,200 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after buying an additional 766 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in shares of Scholar Rock during the 4th quarter worth about $942,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling at Scholar Rock

In other news, insider Tracey Sacco sold 6,500 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the sale, the insider now owns 71,750 shares of the company’s stock, valued at $2,373,490. This represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Akshay Vaishnaw sold 6,750 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $200,610.00. Following the completion of the sale, the insider now directly owns 616,205 shares of the company’s stock, valued at approximately $18,313,612.60. This trade represents a 1.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,500 shares of company stock worth $1,181,671. Insiders own 13.30% of the company’s stock.

Scholar Rock Stock Up 16.6%

SRRK stock opened at $36.32 on Friday. The firm’s fifty day simple moving average is $31.52 and its 200-day simple moving average is $36.08. The company has a market capitalization of $3.45 billion, a P/E ratio of -14.36 and a beta of 0.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.25 and a quick ratio of 10.25. Scholar Rock Holding Corporation has a 12 month low of $6.76 and a 12 month high of $46.98.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period last year, the firm earned ($0.59) EPS. As a group, equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SRRK shares. Wedbush reiterated an “outperform” rating and set a $50.00 price objective on shares of Scholar Rock in a report on Wednesday. Lifesci Capital upgraded shares of Scholar Rock to a “strong-buy” rating in a research note on Tuesday, June 3rd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target 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.