Renaissance Technologies LLC Trims Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Renaissance Technologies LLC lessened its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 80.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,700 shares of the company's stock after selling 187,600 shares during the period. Renaissance Technologies LLC's holdings in Scholar Rock were worth $1,975,000 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 SRRK. GAMMA Investing LLC raised its holdings in shares of Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock valued at $34,000 after acquiring an additional 269 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock valued at $48,000 after purchasing an additional 1,031 shares in the last quarter. Amalgamated Bank increased its position in shares of Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after buying an additional 620 shares during the period. Finally, KBC Group NV bought a new position in Scholar Rock in the fourth quarter worth about $131,000. Institutional investors own 91.08% of the company's stock.

Insider Activity at Scholar Rock

In other Scholar Rock news, CEO Jay T. Backstrom sold 18,372 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total value of $676,640.76. Following the transaction, the chief executive officer now owns 311,991 shares of the company's stock, valued at approximately $11,490,628.53. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mo Qatanani sold 68,510 shares of the business's 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 sale, the insider now owns 111,084 shares of the company's stock, valued at approximately $4,154,541.60. This represents a 38.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,231 shares of company stock worth $9,220,236 over the last quarter. Company insiders own 13.30% of the company's stock.

Scholar Rock Stock Up 0.8 %

Shares of Scholar Rock stock traded up $0.26 on Thursday, reaching $33.17. The company's stock had a trading volume of 305,195 shares, compared to its average volume of 1,252,840. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -14.12 and a beta of 0.56. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The firm's fifty day simple moving average is $32.42 and its two-hundred day simple moving average is $35.72.

Analyst Ratings Changes

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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $42.67.

Scholar Rock Profile

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.