Mo Qatanani Sells 24,066 Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) Stock

Scholar Rock Holding Corporation (NASDAQ:SRRK) insider Mo Qatanani sold 24,066 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total value of $828,833.04. Following the completion of the sale, the insider directly owned 115,495 shares in the company, valued at approximately $3,977,647.80. This represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Scholar Rock Stock Down 1.8%

SRRK stock opened at $37.44 on Friday. Scholar Rock Holding Corporation has a twelve month low of $6.76 and a twelve month high of $46.98. The company has a market cap of $3.55 billion, a PE ratio of -14.80 and a beta of 0.33. The business’s 50-day simple moving average is $32.78 and its 200 day simple moving average is $35.25. The company has a quick ratio of 10.25, a current ratio of 10.25 and a debt-to-equity ratio of 0.16.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04). During the same period last year, the business earned ($0.59) earnings per share. On average, research analysts anticipate that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SRRK has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a research report on Wednesday, June 18th. Lifesci Capital raised Scholar Rock to a “strong-buy” rating in a research report on Tuesday, June 3rd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $42.67.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in Scholar Rock by 152.8% during the first quarter. CWM LLC now owns 996 shares of the company’s stock valued at $32,000 after purchasing an additional 602 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Scholar Rock during the fourth quarter valued at approximately $85,000. Federated Hermes Inc. acquired a new stake in Scholar Rock during the first quarter valued at approximately $71,000. Strs Ohio acquired a new stake in Scholar Rock during the first quarter valued at approximately $77,000. Finally, NEOS Investment Management LLC acquired a new stake in Scholar Rock during the fourth quarter valued at approximately $209,000. 91.08% of the stock is owned by institutional investors and hedge funds.

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.