Fred Alger Management LLC Takes Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Fred Alger Management LLC acquired a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 38,172 shares of the company's stock, valued at approximately $1,650,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock worth $34,000 after acquiring an additional 269 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 worth $39,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC grew its position in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock valued at $48,000 after buying an additional 1,031 shares during the period. Amalgamated Bank grew its position in Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after buying an additional 620 shares during the period. Finally, KBC Group NV bought a new position in shares of Scholar Rock in the fourth quarter worth about $131,000. Institutional investors own 91.08% of the company's stock.

Scholar Rock Stock Performance

Scholar Rock stock traded down $0.86 during mid-day trading on Wednesday, hitting $30.54. The company had a trading volume of 1,298,022 shares, compared to its average volume of 1,272,574. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company's fifty day moving average is $31.35 and its 200-day moving average is $35.87. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -13.00 and a beta of 0.37.

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 for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). Equities research analysts predict that Scholar Rock Holding Co. will post -2.42 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Scholar Rock currently has an average rating of "Buy" and a consensus target price of $42.67.

Insiders Place Their Bets

In related news, Director Katie Peng sold 1,006 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.42, for a total transaction of $34,626.52. Following the completion of the sale, the director now owns 30,319 shares in the company, valued at $1,043,579.98. This represents a 3.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tracey Sacco sold 5,000 shares of the stock in a transaction 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 sale, the insider now directly owns 71,750 shares of the company's stock, valued at approximately $2,355,552.50. This represents a 6.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,231 shares of company stock worth $9,220,236 in the last ninety days. 13.30% of the stock is owned by corporate insiders.

Scholar Rock 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.