Rafferty Asset Management LLC Has $3.37 Million Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Rafferty Asset Management LLC cut its stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 32.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,077 shares of the company's stock after selling 37,595 shares during the period. Rafferty Asset Management LLC owned approximately 0.08% of Scholar Rock worth $3,374,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SRRK. ProShare Advisors LLC boosted its position in Scholar Rock by 48.7% during the fourth quarter. ProShare Advisors LLC now owns 26,275 shares of the company's stock worth $1,136,000 after acquiring an additional 8,601 shares during the last quarter. MPM Bioimpact LLC purchased a new position in shares of Scholar Rock in the 4th quarter valued at $17,986,000. Paradigm Biocapital Advisors LP purchased a new stake in Scholar Rock during the 4th quarter worth $17,288,000. Patient Square Capital LP purchased a new stake in Scholar Rock during the 4th quarter worth $1,383,000. Finally, Nuveen Asset Management LLC increased its stake in Scholar Rock by 67.4% during the 4th quarter. Nuveen Asset Management LLC now owns 304,548 shares of the company's stock worth $13,163,000 after buying an additional 122,638 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 142,292 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the sale, the chief financial officer now directly owns 111,345 shares of the company's stock, valued at $3,966,108.90. This represents a 56.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tracey Sacco sold 6,500 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $33.08, for a total transaction of $215,020.00. Following the completion of the sale, the insider now directly owns 71,750 shares of the company's stock, valued at approximately $2,373,490. This trade represents a 8.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,798 shares of company stock valued at $5,482,238 in the last ninety days. Company insiders own 13.30% of the company's stock.

Analyst Ratings Changes

Separately, Wedbush reissued an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, May 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $42.67.

Scholar Rock Stock Down 1.5%

Scholar Rock stock traded down $0.46 during trading hours on Friday, hitting $30.00. The company had a trading volume of 825,200 shares, compared to its average volume of 1,269,327. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The firm has a market capitalization of $2.85 billion, a P/E ratio of -12.77 and a beta of 0.37. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The firm's fifty day moving average is $30.77 and its 200-day moving average is $35.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its quarterly earnings data 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 company earned ($0.59) EPS. On average, research analysts forecast that Scholar Rock Holding Co. will post -2.42 earnings per share for the current 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.