Cibc World Markets Corp Makes New $314,000 Investment in Scholar Rock Holding Co. (NASDAQ:SRRK)

Cibc World Markets Corp bought a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,254 shares of the company’s stock, valued at approximately $314,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Scholar Rock by 51.8% during the 4th 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. Quarry LP lifted its stake in shares of Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after purchasing an additional 4,373 shares during the period. Global Retirement Partners LLC boosted its position in shares of Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares during the period. Finally, Amalgamated Bank raised its holdings in Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Insider Activity at Scholar Rock

In other 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 transaction of $249,951.00. Following the transaction, the insider now directly owns 67,200 shares of the company’s stock, valued at $2,970,240. This represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the sale, the chief executive officer now owns 330,363 shares of the company’s stock, valued at $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,272 shares of company stock valued at $11,030,778. 19.20% of the stock is owned by corporate insiders.

Scholar Rock Trading Up 2.3 %

Shares of NASDAQ SRRK opened at $33.81 on Tuesday. The firm’s 50 day moving average price is $38.56 and its 200-day moving average price is $32.55. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The company has a market cap of $3.20 billion, a PE ratio of -14.39 and a beta of 0.59.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research report on Monday, March 17th. HC Wainwright raised their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial lifted their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and a consensus target price of $40.86.

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.