Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Sells $84,932.84 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRKGet Free Report) CFO Edward H. Myles sold 9,458 shares of Scholar Rock stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $84,932.84. Following the completion of the sale, the chief financial officer now owns 201,518 shares in the company, valued at approximately $1,809,631.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Scholar Rock Price Performance

SRRK opened at $8.30 on Friday. Scholar Rock Holding Co. has a 12 month low of $5.93 and a 12 month high of $21.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.58 and a quick ratio of 6.58. The business has a fifty day moving average price of $12.12 and a 200 day moving average price of $14.81.

Scholar Rock (NASDAQ:SRRKGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the previous year, the business earned ($0.46) earnings per share. As a group, sell-side analysts anticipate that Scholar Rock Holding Co. will post -2.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SRRK shares. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 26th. Raymond James started coverage on Scholar Rock in a research note on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Scholar Rock in a research note on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a research note on Tuesday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a research note on Tuesday, June 4th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $26.00.

Get Our Latest Report on Scholar Rock

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of 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. FMR LLC boosted its position in shares of Scholar Rock by 3.8% during the 3rd quarter. FMR LLC now owns 8,005,654 shares of the company’s stock worth $56,840,000 after acquiring an additional 291,156 shares in the last quarter. Redmile Group LLC boosted its position in shares of Scholar Rock by 0.3% during the 1st quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock worth $114,012,000 after acquiring an additional 17,105 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Scholar Rock by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after acquiring an additional 114,550 shares in the last quarter. Finally, Bellevue Group AG boosted its position in shares of 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. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Company Profile

(Get Free Report)

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.

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