GAMMA Investing LLC Acquires 30,140 Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK)

GAMMA Investing LLC boosted its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 3,824.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,928 shares of the company's stock after purchasing an additional 30,140 shares during the period. GAMMA Investing LLC's holdings in Scholar Rock were worth $962,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Amalgamated Bank raised its holdings in Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after buying an additional 620 shares during the period. Global Retirement Partners LLC increased its position in shares of 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 acquiring an additional 766 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Scholar Rock by 16.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company's stock valued at $350,000 after acquiring an additional 1,170 shares during the period. Corebridge Financial Inc. grew its position in Scholar Rock by 5.2% during the 4th quarter. Corebridge Financial Inc. now owns 38,539 shares of the company's stock worth $1,666,000 after purchasing an additional 1,915 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in Scholar Rock during the 4th quarter valued at $85,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Stock Down 5.5%

SRRK traded down $1.98 during trading on Friday, reaching $34.34. 2,110,127 shares of the stock traded hands, compared to its average volume of 1,152,801. The stock's 50-day simple moving average is $31.52 and its two-hundred day simple moving average is $36.08. 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 fifty-two week low of $6.76 and a fifty-two week high of $46.98. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -13.57 and a beta of 0.28.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wedbush reaffirmed an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a research report on Wednesday. Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Scholar Rock presently has an average rating of "Buy" and a consensus price target of $42.67.

Insider Activity at Scholar Rock

In other news, Director Kristina Burow sold 5,400 shares of Scholar Rock stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $160,488.00. Following the transaction, the director now directly owns 21,071 shares in the company, valued at approximately $626,230.12. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey S. Flier sold 6,075 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.73, for a total value of $180,609.75. Following the transaction, the director now directly owns 24,070 shares of the company's stock, valued at $715,601.10. This represents a 20.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,500 shares of company stock valued at $1,181,671. 13.30% of the stock is currently owned by corporate insiders.

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.