Sphera Funds Management LTD. Sells 76,673 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Sphera Funds Management LTD. lessened its stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 45.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Scholar Rock by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company's stock valued at $310,000 after purchasing an additional 379 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Scholar Rock by 30.6% in the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after purchasing an additional 620 shares during the last quarter. Global Retirement Partners LLC boosted 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 purchasing an additional 766 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Scholar Rock by 1,321.8% in 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 during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Scholar Rock by 16.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company's stock valued at $350,000 after purchasing an additional 1,170 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company's stock.

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 note on Wednesday, May 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Scholar Rock has a consensus rating of "Buy" and an average target price of $42.67.

Insider Buying and Selling

In other news, insider Mo Qatanani sold 68,510 shares of Scholar Rock stock in a transaction that occurred on 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 directly owns 111,084 shares in the company, valued at $4,154,541.60. This trade represents a 38.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay T. Backstrom sold 18,372 shares of the business's 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 transaction, the chief executive officer now owns 311,991 shares in the company, valued at approximately $11,490,628.53. The trade was a 5.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,231 shares of company stock valued at $9,220,236 in the last 90 days. 13.30% of the stock is owned by insiders.

Scholar Rock Trading Down 1.3%

Scholar Rock stock traded down $0.39 during midday trading on Monday, hitting $30.16. 975,733 shares of the stock were exchanged, compared to its average volume of 1,269,689. The company has a fifty day simple moving average of $31.07 and a two-hundred day simple moving average of $35.98. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The stock has a market capitalization of $2.86 billion, a PE ratio of -12.83 and a beta of 0.37. 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 (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period last year, the company earned ($0.59) EPS. Equities research analysts anticipate that Scholar Rock Holding Co. will post -2.42 EPS for the current fiscal year.

Scholar Rock Company 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.