Paradigm Biocapital Advisors LP Acquires New Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Paradigm Biocapital Advisors LP bought a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 400,000 shares of the company’s stock, valued at approximately $17,288,000. Scholar Rock makes up approximately 0.6% of Paradigm Biocapital Advisors LP’s investment portfolio, making the stock its 26th biggest position.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after acquiring an additional 766 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings 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 last quarter. Amalgamated Bank grew 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 during the last quarter. Finally, KBC Group NV acquired a new position in shares of Scholar Rock during the fourth quarter worth $131,000. 91.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wedbush reissued an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $42.67.

Scholar Rock Stock Down 3.3%

SRRK stock opened at $31.40 on Wednesday. The stock has a market capitalization of $2.98 billion, a PE ratio of -13.36 and a beta of 0.37. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $31.46 and a 200 day moving average of $35.91.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.04). Sell-side analysts forecast that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Tracey Sacco sold 5,000 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $32.83, for a total value of $164,150.00. Following the transaction, the insider now directly owns 71,750 shares of the company’s stock, valued at approximately $2,355,552.50. This represents a 6.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katie Peng sold 1,006 shares of Scholar Rock stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.42, for a total value of $34,626.52. Following the sale, the director now directly owns 30,319 shares of the company’s stock, valued at $1,043,579.98. This trade represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,231 shares of company stock worth $9,220,236 in the last 90 days. Insiders own 13.30% of the company’s stock.

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.