Hood River Capital Management LLC Sells 451,080 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Hood River Capital Management LLC cut its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,898,641 shares of the company's stock after selling 451,080 shares during the quarter. Scholar Rock accounts for about 1.2% of Hood River Capital Management LLC's portfolio, making the stock its 26th biggest holding. Hood River Capital Management LLC owned about 2.03% of Scholar Rock worth $82,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its stake in shares of Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company's stock worth $589,316,000 after acquiring an additional 3,439,215 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Scholar Rock by 7.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company's stock worth $401,231,000 after purchasing an additional 629,315 shares during the last quarter. Vanguard Group Inc. grew its position in Scholar Rock by 17.6% in the fourth 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 in the last quarter. Marshall Wace LLP increased its stake in Scholar Rock by 1,283.7% in the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock valued at $127,301,000 after buying an additional 2,732,546 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Scholar Rock during the 4th quarter worth about $86,043,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Insider Buying and Selling

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 111,084 shares of the company's stock, valued at $4,154,541.60. This represents a 38.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracey Sacco sold 6,500 shares of Scholar Rock stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $33.08, for a total value of $215,020.00. Following the sale, the insider now directly owns 71,750 shares of the company's stock, valued at approximately $2,373,490. The trade was a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,231 shares of company stock worth $9,056,086. Company insiders own 13.30% of the company's stock.

Scholar Rock Stock Performance

Shares of SRRK traded down $1.65 during midday trading on Monday, reaching $31.17. The stock had a trading volume of 1,278,664 shares, compared to its average volume of 1,243,929. 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 firm has a 50 day simple moving average of $32.77 and a 200-day simple moving average of $35.72. The firm has a market cap of $2.96 billion, a PE ratio of -13.26 and a beta of 0.56. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98.

Analyst Upgrades and Downgrades

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