Proficio Capital Partners LLC bought a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 54,717 shares of the company's stock, valued at approximately $2,365,000. Proficio Capital Partners LLC owned about 0.06% of Scholar Rock as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of SRRK. Creative Planning acquired a new stake in Scholar Rock during the 3rd quarter worth about $115,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock worth $25,000 after buying an additional 514 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Scholar Rock during the third quarter worth about $202,000. Charles Schwab Investment Management Inc. raised its position in Scholar Rock by 9.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock valued at $4,027,000 after acquiring an additional 42,139 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Scholar Rock by 593.6% in the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company's stock valued at $5,879,000 after acquiring an additional 628,186 shares during the period. Institutional investors and hedge funds own 91.08% of the company's stock.
In other Scholar Rock news, insider Jing L. Marantz sold 5,655 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $249,951.00. Following the transaction, the insider now owns 67,200 shares in the company, valued at approximately $2,970,240. This trade represents a 7.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mo Qatanani sold 68,510 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the sale, the insider now directly owns 111,084 shares of the company's stock, valued at $4,154,541.60. The trade was a 38.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,974 shares of company stock worth $5,927,710 in the last 90 days. Insiders own 19.20% of the company's stock.
Several equities analysts have recently weighed in on the stock. HC Wainwright lifted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Truist Financial upped their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Wedbush restated an "outperform" rating and set a $47.00 target price on shares of Scholar Rock in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $40.43.
Check Out Our Latest Research Report on Scholar Rock
SRRK traded down $0.01 during midday trading on Thursday, hitting $36.13. 646,625 shares of the company traded hands, compared to its average volume of 1,162,051. The business has a 50 day simple moving average of $40.71 and a two-hundred day simple moving average of $30.07. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -15.37 and a beta of 0.59. 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 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.
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