Jasper Ridge Partners L.P. Raises Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

Jasper Ridge Partners L.P. grew its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK) by 103.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 64,169 shares of the company’s stock after buying an additional 32,601 shares during the period. Jasper Ridge Partners L.P.’s holdings in Scholar Rock were worth $2,773,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ensign Peak Advisors Inc lifted its stake in shares of Scholar Rock by 382.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 187,974 shares of the company’s stock worth $8,124,000 after acquiring an additional 149,000 shares during the period. Farallon Capital Management LLC purchased a new stake in Scholar Rock in the 4th quarter valued at approximately $303,000. Fred Alger Management LLC acquired a new position in Scholar Rock during the 4th quarter worth approximately $1,650,000. Fairmount Funds Management LLC acquired a new position in Scholar Rock during the 4th quarter worth approximately $84,839,000. Finally, Deutsche Bank AG raised its stake in shares of Scholar Rock by 364.9% during the 4th quarter. Deutsche Bank AG now owns 185,003 shares of the company’s stock worth $7,996,000 after buying an additional 145,211 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insiders Place Their Bets

In other Scholar Rock news, insider Tracey Sacco sold 5,000 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $32.83, for a total value of $164,150.00. Following the sale, the insider now owns 71,750 shares of the company’s stock, valued at $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, insider Mo Qatanani sold 68,510 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the transaction, the insider now directly owns 111,084 shares of the company’s stock, valued at approximately $4,154,541.60. This trade represents a 38.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,231 shares of company stock worth $9,220,236. 13.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Scholar Rock Price Performance

SRRK stock opened at $30.85 on Friday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -13.13 and a beta of 0.37. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $31.63 and a 200-day moving average of $35.87. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98.

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.