MPM Bioimpact LLC Invests $17.99 Million in Scholar Rock Holding Co. (NASDAQ:SRRK)

MPM Bioimpact LLC purchased a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 416,144 shares of the company's stock, valued at approximately $17,986,000. Scholar Rock makes up 2.6% of MPM Bioimpact LLC's investment portfolio, making the stock its 14th largest holding. MPM Bioimpact LLC owned 0.44% of Scholar Rock at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company's stock valued at $34,000 after purchasing an additional 269 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Scholar Rock by 584.7% in the fourth 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 boosted its stake in Scholar Rock by 1,321.8% in the fourth 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. Amalgamated Bank boosted its stake in Scholar Rock by 30.6% in the fourth 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. Finally, KBC Group NV bought a new position in Scholar Rock in the fourth quarter valued at approximately $131,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of Scholar Rock stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total value of $2,562,274.00. Following the sale, the insider now owns 111,084 shares of the company's stock, valued at $4,154,541.60. This trade represents a 38.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Edward H. Myles sold 7,809 shares of Scholar Rock stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $287,605.47. Following the completion of the sale, the chief financial officer now directly owns 140,740 shares in the company, valued at $5,183,454.20. This represents a 5.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,231 shares of company stock valued at $9,220,236. 13.30% of the stock is currently owned by corporate insiders.

Scholar Rock Trading Down 0.9%

NASDAQ:SRRK traded down $0.28 on Friday, reaching $30.55. The company's stock had a trading volume of 1,075,653 shares, compared to its average volume of 1,273,907. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $46.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a market cap of $2.90 billion, a PE ratio of -13.00 and a beta of 0.37. The business's 50-day moving average price is $31.19 and its two-hundred day moving average price is $35.87.

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

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.