Scholar Rock Holding Co. (NASDAQ:SRRK) Insider Mo Qatanani Sells 1,936 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) insider Mo Qatanani sold 1,936 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.58, for a total transaction of $16,610.88. Following the transaction, the insider now directly owns 142,768 shares in the company, valued at $1,224,949.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Scholar Rock Stock Up 0.4 %

Shares of SRRK opened at $8.27 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.04 and a quick ratio of 6.04. The business’s 50 day moving average price is $8.94 and its 200-day moving average price is $11.32. Scholar Rock Holding Co. has a 52 week low of $6.03 and a 52 week high of $21.17.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same period in the previous year, the business posted ($0.47) earnings per share. On average, equities analysts predict that Scholar Rock Holding Co. will post -2.39 earnings per share for the current year.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Price T Rowe Associates Inc. MD boosted its stake in shares of Scholar Rock by 16.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock worth $156,444,000 after buying an additional 1,149,519 shares during the last quarter. Eventide Asset Management LLC purchased a new stake in shares of Scholar Rock during the 4th quarter valued at about $18,287,000. Clearbridge Investments LLC bought a new position in shares of Scholar Rock in the 2nd quarter worth approximately $6,223,000. Candriam S.C.A. purchased a new position in shares of Scholar Rock in the second quarter worth approximately $6,201,000. Finally, Millennium Management LLC grew its position in Scholar Rock by 159.2% during the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after buying an additional 568,512 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SRRK shares. BMO Capital Markets lifted their target price on shares of Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a research report on Tuesday, June 25th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $26.43.

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.