Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles Sells 206,240 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 206,240 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the sale, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Scholar Rock Stock Up 362.0 %

SRRK stock opened at $34.28 on Tuesday. The company’s 50 day moving average price is $9.23 and its 200 day moving average price is $10.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. Scholar Rock Holding Co. has a fifty-two week low of $6.48 and a fifty-two week high of $34.38. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -16.40 and a beta of 0.82.

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

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently modified their holdings of SRRK. SG Americas Securities LLC purchased a new stake in Scholar Rock during the 3rd quarter worth about $1,093,000. Point72 DIFC Ltd purchased a new position in shares of Scholar Rock during the 2nd quarter valued at approximately $103,000. Clearbridge Investments LLC purchased a new position in shares of Scholar Rock during the 2nd quarter valued at approximately $6,223,000. Algert Global LLC raised its position in shares of Scholar Rock by 34.7% during the 2nd quarter. Algert Global LLC now owns 16,695 shares of the company’s stock valued at $139,000 after acquiring an additional 4,305 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Scholar Rock by 30.7% in the second quarter. The Manufacturers Life Insurance Company now owns 222,800 shares of the company’s stock worth $1,856,000 after buying an additional 52,329 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SRRK has been the subject of several analyst reports. BMO Capital Markets raised 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. Wedbush raised their target price on shares of Scholar Rock from $27.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday. HC Wainwright raised their target price on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of Scholar Rock from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.