Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) Director Sells 1,175,713 Shares of Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction on Monday, October 7th. The shares were sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the sale, the director now owns 5,612,896 shares in the company, valued at approximately $164,177,208. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Scholar Rock Stock Performance

Shares of SRRK stock traded up $26.86 during trading hours on Monday, hitting $34.28. The company’s stock had a trading volume of 42,613,973 shares, compared to its average volume of 1,040,092. The company has a 50 day moving average of $8.73 and a 200 day moving average of $10.66. Scholar Rock Holding Co. has a 12-month low of $6.48 and a 12-month high of $34.38. The stock has a market cap of $2.73 billion, a PE ratio of -15.12 and a beta of 0.82. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter in the previous year, the company earned ($0.47) EPS. On average, sell-side analysts forecast that Scholar Rock Holding Co. will post -2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Scholar Rock

A number of hedge funds have recently modified their holdings of SRRK. Rafferty Asset Management LLC purchased a new position in Scholar Rock during the fourth quarter worth about $2,025,000. Bellevue Group AG grew its holdings in Scholar Rock by 1.5% during the 4th quarter. Bellevue Group AG now owns 2,168,925 shares of the company’s stock worth $40,776,000 after acquiring an additional 31,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Scholar Rock by 16.0% during 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 acquiring an additional 1,149,519 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Scholar Rock during the 4th quarter worth approximately $534,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Scholar Rock by 31.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock worth $26,898,000 after buying an additional 342,690 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SRRK has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price target on shares of Scholar Rock from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday. Wedbush boosted their price objective on shares of Scholar Rock from $27.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, HC Wainwright boosted their price objective on shares of Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $27.75.

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.