Scholar Rock (NASDAQ:SRRK) Director Sells $293,430.48 in Stock

Scholar Rock Holding Corporation (NASDAQ:SRRK) Director Katie Peng sold 5,446 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total transaction of $293,430.48. Following the completion of the transaction, the director owned 34,301 shares in the company, valued at $1,848,137.88. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $56.03 on Thursday. The firm has a fifty day moving average of $48.99 and a two-hundred day moving average of $46.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 8.64 and a current ratio of 8.64. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of -15.61 and a beta of 0.67. Scholar Rock Holding Corporation has a 52 week low of $27.07 and a 52 week high of $57.80.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same quarter last year, the company posted ($0.67) earnings per share. As a group, equities research analysts predict that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.

Analyst Ratings Changes

SRRK has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Tuesday, April 21st. Canaccord Genuity Group assumed coverage on shares of Scholar Rock in a research note on Monday, April 20th. They issued a “buy” rating and a $62.00 target price for the company. Barclays increased their target price on shares of Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wedbush boosted their price target on shares of Scholar Rock from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Scholar Rock from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and a consensus target price of $56.00.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in Scholar Rock by 161.0% in the third quarter. JPMorgan Chase & Co. now owns 713,988 shares of the company’s stock valued at $26,589,000 after buying an additional 440,401 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Scholar Rock by 74.0% in the fourth quarter. Jennison Associates LLC now owns 2,795,188 shares of the company’s stock valued at $123,128,000 after buying an additional 1,188,676 shares during the period. HighVista Strategies LLC increased its position in shares of Scholar Rock by 90.8% during the third quarter. HighVista Strategies LLC now owns 59,573 shares of the company’s stock worth $2,218,000 after acquiring an additional 28,343 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Scholar Rock during the fourth quarter worth $5,430,000. Finally, Granahan Investment Management LLC raised its holdings in shares of Scholar Rock by 77.1% during the third quarter. Granahan Investment Management LLC now owns 129,914 shares of the company’s stock worth $4,838,000 after acquiring an additional 56,539 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Company Profile

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).