54,717 Shares in Scholar Rock Holding Co. (NASDAQ:SRRK) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 54,717 shares of the company’s stock, valued at approximately $2,365,000. Proficio Capital Partners LLC owned 0.06% of Scholar Rock as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in SRRK. Intech Investment Management LLC acquired a new stake in shares of Scholar Rock in the third quarter valued at about $202,000. Charles Schwab Investment Management Inc. increased its stake in Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after purchasing an additional 42,139 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Scholar Rock by 593.6% during the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock worth $5,879,000 after purchasing an additional 628,186 shares during the last quarter. FMR LLC boosted its position in Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after purchasing an additional 308,813 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Scholar Rock by 900.6% in the third quarter. BNP Paribas Financial Markets now owns 36,331 shares of the company’s stock valued at $291,000 after purchasing an additional 32,700 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Stock Performance

Shares of SRRK opened at $33.88 on Wednesday. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -14.42 and a beta of 0.59. 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’s 50 day simple moving average is $39.17 and its 200 day simple moving average is $31.85.

Analysts Set New Price Targets

SRRK has been the subject of several research reports. Wedbush reaffirmed an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a research note on Monday. Truist Financial increased their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright upped their target price on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $40.86.

Insiders Place Their Bets

In related news, insider Jing L. Marantz sold 5,655 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $249,951.00. Following the completion of the transaction, the insider now directly owns 67,200 shares in the company, valued at approximately $2,970,240. This represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Edward H. Myles sold 142,292 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 111,345 shares in the company, valued at approximately $3,966,108.90. The trade was a 56.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 292,266 shares of company stock valued at $10,996,151 in the last quarter. 19.20% of the stock is currently owned by company insiders.

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.