Rock Springs Capital Management LP Acquires New Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

Rock Springs Capital Management LP purchased a new stake 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 & Exchange Commission. The firm purchased 716,782 shares of the company's stock, valued at approximately $30,979,000. Rock Springs Capital Management LP owned about 0.77% of Scholar Rock as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its position in shares of Scholar Rock by 103.4% in the 3rd quarter. Barclays PLC now owns 165,449 shares of the company's stock worth $1,324,000 after purchasing an additional 84,118 shares during the period. Geode Capital Management LLC grew its holdings in Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock worth $12,361,000 after acquiring an additional 120,489 shares during the period. Vanguard Group Inc. lifted its stake in shares of Scholar Rock by 17.6% in the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after purchasing an additional 708,817 shares during the period. Principal Financial Group Inc. acquired a new stake in Scholar Rock during the fourth quarter worth approximately $274,000. Finally, Rhumbline Advisers increased its holdings in Scholar Rock by 13.2% in the fourth quarter. Rhumbline Advisers now owns 113,261 shares of the company's stock worth $4,895,000 after purchasing an additional 13,247 shares in the last quarter. Institutional investors own 91.08% of the company's stock.

Insider Activity

In related news, CFO Edward H. Myles sold 142,292 shares of the business's 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 sale, the chief financial officer now owns 111,345 shares in the company, valued at $3,966,108.90. The trade was a 56.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Katie Peng sold 1,006 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was 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 of the company's stock, valued at approximately $1,043,579.98. The trade was a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,231 shares of company stock worth $9,056,086. 13.30% of the stock is currently owned by corporate insiders.

Scholar Rock Price Performance

Shares of Scholar Rock stock traded down $1.57 during trading on Friday, hitting $32.81. The stock had a trading volume of 694,304 shares, compared to its average volume of 1,240,686. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -13.96 and a beta of 0.56. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98. The business's 50-day moving average is $32.77 and its 200 day moving average is $35.60. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Wall Street Analyst Weigh In

Separately, Wedbush restated an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target 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.