Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Sold by Sphera Funds Management LTD.

Sphera Funds Management LTD. reduced its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 45.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,193 shares of the company's stock after selling 76,673 shares during the quarter. Sphera Funds Management LTD. owned about 0.10% of Scholar Rock worth $3,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SRRK. Global Retirement Partners LLC raised its stake 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 valued at $39,000 after acquiring an additional 766 shares during the period. Nisa Investment Advisors LLC grew its holdings in 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 stake in Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after buying an additional 620 shares during the period. KBC Group NV acquired a new position in Scholar Rock in the 4th quarter worth $131,000. Finally, NEOS Investment Management LLC purchased a new position in Scholar Rock in the 4th quarter valued at about $209,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Stock Performance

NASDAQ:SRRK traded down $1.40 during trading hours on Wednesday, reaching $30.15. 453,828 shares of the stock were exchanged, compared to its average volume of 1,266,416. The stock has a market capitalization of $2.86 billion, a P/E ratio of -12.83 and a beta of 0.37. The firm has a 50 day simple moving average of $31.01 and a 200-day simple moving average of $35.94. 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.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same quarter in the prior year, the business posted ($0.59) earnings per share. As a group, sell-side analysts forecast that Scholar Rock Holding Co. will post -2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wedbush reaffirmed an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, May 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Scholar Rock currently has a consensus rating of "Buy" and a consensus price target of $42.67.

Insider Activity

In other news, Director Katie Peng sold 1,006 shares of Scholar Rock 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 142,292 shares of the 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 transaction, the chief financial officer now directly owns 111,345 shares of the company's stock, valued at $3,966,108.90. This trade represents a 56.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,798 shares of company stock valued at $5,482,238. 13.30% of the stock is currently owned by company insiders.

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.