Srinivas Akkaraju Sells 1,175,713 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) Director Srinivas Akkaraju sold 1,175,713 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the transaction, the director now owns 5,612,896 shares in the company, valued at $164,177,208. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $29.49 on Wednesday. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -14.11 and a beta of 0.82. The company’s 50-day moving average price is $9.64 and its 200 day moving average price is $10.87. Scholar Rock Holding Co. has a 52 week low of $6.48 and a 52 week high of $35.38.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter last year, the business earned ($0.47) earnings per share. As a group, research analysts forecast that Scholar Rock Holding Co. will post -2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Scholar Rock

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. acquired a new stake in shares of Scholar Rock during the second quarter valued at $98,000. Hsbc Holdings PLC acquired a new stake in shares of Scholar Rock during the 2nd quarter worth about $100,000. Point72 DIFC Ltd purchased a new stake in shares of Scholar Rock during the second quarter worth about $103,000. Dark Forest Capital Management LP acquired a new position in shares of Scholar Rock in the second quarter valued at approximately $135,000. Finally, Algert Global LLC lifted its stake in shares of Scholar Rock by 34.7% during the second quarter. Algert Global LLC now owns 16,695 shares of the company’s stock valued at $139,000 after buying an additional 4,305 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on SRRK shares. JPMorgan Chase & Co. dropped their price objective on Scholar Rock from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. BMO Capital Markets increased their price target on shares of Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, August 9th. 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 report on Monday. Finally, HC Wainwright increased their target price 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, 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.