Soleus Capital Management L.P. Invests $7.24 Million in Scholar Rock Holding Co. (NASDAQ:SRRK)

Soleus Capital Management L.P. purchased a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 167,543 shares of the company's stock, valued at approximately $7,241,000. Soleus Capital Management L.P. owned about 0.18% of Scholar Rock as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Scholar Rock by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company's stock worth $310,000 after purchasing an additional 379 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Scholar Rock by 30.6% in the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after acquiring an additional 620 shares during the last quarter. Global Retirement Partners LLC lifted 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 valued at $39,000 after acquiring an additional 766 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock valued at $48,000 after acquiring an additional 1,031 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Scholar Rock by 16.9% in the 4th 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 last quarter. Institutional investors own 91.08% of the company's stock.

Insider Buying and Selling at Scholar Rock

In other news, insider Tracey Sacco sold 5,000 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $32.83, for a total value of $164,150.00. Following the completion of the transaction, the insider now owns 71,750 shares of the company's stock, valued at approximately $2,355,552.50. This represents a 6.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 142,292 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 154,798 shares of company stock valued at $5,482,238 in the last 90 days. Insiders own 13.30% of the company's stock.

Scholar Rock Trading Down 1.5%

Shares of NASDAQ SRRK traded down $0.46 during midday trading on Friday, reaching $30.00. The company had a trading volume of 825,200 shares, compared to its average volume of 1,267,165. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm's fifty day moving average price is $30.77 and its 200-day moving average price is $35.94. The stock has a market cap of $2.85 billion, a PE ratio of -12.77 and a beta of 0.37.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same quarter last year, the company earned ($0.59) earnings per share. On average, equities research analysts anticipate that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

About Scholar Rock

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.