Birchview Capital LP Takes $346,000 Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Birchview Capital LP purchased a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,000 shares of the company’s stock, valued at approximately $346,000.

A number of other large investors also recently bought and sold shares of SRRK. Barclays PLC boosted its holdings in Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after buying an additional 84,118 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after acquiring an additional 120,489 shares during the period. Vanguard Group Inc. increased its stake in shares of Scholar Rock by 17.6% in the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock valued at $205,013,000 after purchasing an additional 708,817 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Scholar Rock in the 4th quarter worth about $274,000. Finally, Rhumbline Advisers boosted its position in Scholar Rock by 13.2% during the fourth quarter. Rhumbline Advisers now owns 113,261 shares of the company’s stock worth $4,895,000 after purchasing an additional 13,247 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Trading Down 4.6 %

SRRK stock opened at $32.81 on Friday. The business’s 50-day moving average is $32.77 and its 200 day moving average is $35.60. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -13.96 and a beta of 0.56. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Transactions at Scholar Rock

In other news, insider Tracey Sacco sold 6,500 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the sale, the insider now directly owns 71,750 shares in the company, valued at $2,373,490. This represents a 8.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward H. Myles sold 7,809 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $287,605.47. Following the transaction, the chief financial officer now owns 140,740 shares in the company, valued at $5,183,454.20. The trade was a 5.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,231 shares of company stock valued at $9,056,086 over the last ninety days. Insiders own 13.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an “outperform” rating and set 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, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target 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.