Scholar Rock (NASDAQ:SRRK) Stock Price Down 11.4% After Insider Selling

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) traded down 11.4% on Wednesday after an insider sold shares in the company. The company traded as low as $25.90 and last traded at $26.12. 2,344,168 shares were traded during mid-day trading, an increase of 117% from the average session volume of 1,078,646 shares. The stock had previously closed at $29.49.

Specifically, CFO Edward H. Myles sold 206,240 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the transaction, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the completion of the transaction, the director now owns 5,612,896 shares in the company, valued at $164,177,208. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other news, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the sale, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities analysts have issued reports on SRRK shares. Wedbush lifted their price target on shares of Scholar Rock from $27.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. reduced their target price on Scholar Rock from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. BMO Capital Markets raised their price target on Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, HC Wainwright upped their price objective on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $27.75.

Scholar Rock Trading Down 11.4 %

The stock has a market cap of $2.09 billion, a PE ratio of -13.18 and a beta of 0.82. The company’s fifty day moving average is $9.64 and its 200-day moving average is $10.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.04 and a quick ratio of 6.04.

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

Institutional Investors Weigh In On Scholar Rock

Hedge funds have recently bought and sold shares of the stock. Walleye Trading LLC purchased a new stake in shares of Scholar Rock during the first quarter worth about $178,000. Principal Financial Group Inc. purchased a new stake in shares of Scholar Rock in the second quarter valued at approximately $98,000. Hsbc Holdings PLC purchased a new stake in shares of Scholar Rock in the second quarter valued at approximately $100,000. Point72 DIFC Ltd purchased a new position in Scholar Rock during the second quarter worth approximately $103,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Scholar Rock by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 13,868 shares of the company’s stock worth $246,000 after buying an additional 5,522 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.