Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles Sells 9,458 Shares of Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 9,458 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $84,932.84. Following the transaction, the chief financial officer now owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Scholar Rock Stock Down 3.3 %

Shares of SRRK stock opened at $8.49 on Wednesday. The company has a quick ratio of 6.58, a current ratio of 6.58 and a debt-to-equity ratio of 0.24. Scholar Rock Holding Co. has a fifty-two week low of $5.93 and a fifty-two week high of $21.17. The firm’s 50 day moving average price is $12.35 and its two-hundred day moving average price is $14.90.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same quarter last year, the business posted ($0.46) EPS. Research analysts predict that Scholar Rock Holding Co. will post -2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Scholar Rock

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of Scholar Rock by 62.3% during the third quarter. Barclays PLC now owns 32,318 shares of the company’s stock valued at $230,000 after purchasing an additional 12,409 shares during the period. Amalgamated Bank increased its stake in Scholar Rock by 52.8% during the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock worth $30,000 after buying an additional 1,458 shares during the period. Swiss National Bank lifted its holdings in Scholar Rock by 5.4% in the 3rd quarter. Swiss National Bank now owns 83,600 shares of the company’s stock worth $594,000 after buying an additional 4,300 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Scholar Rock in the 3rd quarter valued at about $88,000. Finally, FMR LLC grew its stake in shares of Scholar Rock by 3.8% during the third quarter. FMR LLC now owns 8,005,654 shares of the company’s stock valued at $56,840,000 after acquiring an additional 291,156 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Upgrades and Downgrades

SRRK has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a report on Tuesday, June 4th. Wedbush reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a research note on Tuesday, May 7th. Truist Financial reissued a “buy” rating and set a $20.00 price target on shares of Scholar Rock in a research note on Wednesday, April 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 26th. Finally, BMO Capital Markets raised their price target on Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $26.00.

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.