Orbimed Advisors LLC Sells 590,500 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Orbimed Advisors LLC reduced its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 79.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,800 shares of the company's stock after selling 590,500 shares during the quarter. Orbimed Advisors LLC owned about 0.16% of Scholar Rock worth $6,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SRRK. Barclays PLC raised its position in shares of Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company's stock worth $1,324,000 after acquiring an additional 84,118 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Scholar Rock by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company's stock valued at $310,000 after purchasing an additional 379 shares during the period. 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. Hamilton Lane Advisors LLC bought a new stake in shares of Scholar Rock during the fourth quarter worth approximately $1,274,000. Finally, Nisa Investment Advisors LLC lifted its holdings 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 buying an additional 1,031 shares during the period. Institutional investors and hedge funds own 91.08% of the company's stock.

Insider Transactions at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total value of $2,562,274.00. Following the completion of the sale, the insider now owns 111,084 shares in the company, valued at $4,154,541.60. This trade represents a 38.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Edward H. Myles sold 7,809 shares of the company's stock in a transaction that occurred on 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 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. Insiders have sold a total of 255,231 shares of company stock valued at $9,220,236 over the last three months. 13.30% of the stock is currently owned by corporate insiders.

Scholar Rock Stock Up 5.8%

Scholar Rock stock opened at $32.46 on Tuesday. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. 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 $3.08 billion, a price-to-earnings ratio of -13.81 and a beta of 0.37. The company's 50 day simple moving average is $31.55 and its 200 day simple moving average is $35.94.

Analysts Set New Price Targets

Separately, Wedbush reiterated an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research report on Tuesday, March 25th. 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.

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