Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Sold by Axa S.A.

Axa S.A. reduced its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 71.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,094 shares of the company's stock after selling 266,261 shares during the period. Axa S.A. owned 0.11% of Scholar Rock worth $4,585,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Barclays PLC grew its position in Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company's stock valued at $1,324,000 after acquiring an additional 84,118 shares during the period. JPMorgan Chase & Co. increased 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 worth $310,000 after purchasing an additional 379 shares in the last quarter. GAMMA Investing LLC raised its holdings in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock valued at $34,000 after buying an additional 269 shares during the period. Hamilton Lane Advisors LLC purchased a new stake in Scholar Rock during the fourth quarter worth approximately $1,274,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock worth $48,000 after acquiring an additional 1,031 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Price Performance

SRRK opened at $29.70 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a 1-year low of $6.76 and a 1-year high of $46.98. The company has a 50-day moving average of $31.86 and a 200-day moving average of $35.80. The company has a market capitalization of $2.82 billion, a P/E ratio of -12.64 and a beta of 0.37.

Insider Activity at Scholar Rock

In related news, Director Katie Peng sold 1,006 shares of the company'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 sale, the director now directly owns 30,319 shares of the company's stock, valued at approximately $1,043,579.98. This represents a 3.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jay T. Backstrom sold 18,372 shares of Scholar Rock stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $676,640.76. Following the completion of the transaction, the chief executive officer now directly owns 311,991 shares of the company's stock, valued at approximately $11,490,628.53. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus 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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