Monashee Investment Management LLC Takes $1.95 Million Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Monashee Investment Management LLC purchased a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 45,000 shares of the company’s stock, valued at approximately $1,945,000. Scholar Rock comprises approximately 0.3% of Monashee Investment Management LLC’s portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after purchasing an additional 120,489 shares in the last quarter. Barclays PLC lifted its stake in shares of Scholar Rock by 103.4% in 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. Vanguard Group Inc. boosted its position in Scholar Rock by 17.6% during the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock worth $205,013,000 after acquiring an additional 708,817 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Scholar Rock during the 4th quarter valued at about $274,000. Finally, Rhumbline Advisers raised its holdings in Scholar Rock by 13.2% in the 4th quarter. Rhumbline Advisers now owns 113,261 shares of the company’s stock valued at $4,895,000 after acquiring an additional 13,247 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Mo Qatanani sold 68,510 shares of the business’s 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 of the company’s stock, valued at approximately $4,154,541.60. The trade was a 38.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward H. Myles sold 7,809 shares of the stock in a transaction that occurred on 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 directly owns 140,740 shares of the company’s stock, valued at $5,183,454.20. The trade was a 5.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,231 shares of company stock valued at $9,220,236 in the last quarter. Insiders own 13.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Scholar Rock Stock Up 3.5 %

SRRK stock opened at $32.77 on Wednesday. The firm has a market cap of $3.11 billion, a PE ratio of -13.94 and a beta of 0.56. Scholar Rock Holding Co. has a one year low of $6.76 and a one year 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 firm’s 50 day moving average price is $32.51 and its 200-day moving average price is $35.74.

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.