Srinivas Akkaraju Purchases 29,599 Shares of Scholar Rock (NASDAQ:SRRK) Stock

Scholar Rock Holding Corporation (NASDAQ:SRRK) Director Srinivas Akkaraju acquired 29,599 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was acquired at an average cost of $39.92 per share, with a total value of $1,181,592.08. Following the acquisition, the director directly owned 530,038 shares in the company, valued at approximately $21,159,116.96. This trade represents a 5.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Srinivas Akkaraju also recently made the following trade(s):

• On Monday, October 6th, Srinivas Akkaraju bought 113,025 shares of Scholar Rock stock. The shares were bought at an average cost of $38.65 per share, for a total transaction of $4,368,416.25.
• On Friday, October 3rd, Srinivas Akkaraju acquired 387,414 shares of Scholar Rock stock. The shares were purchased at an average cost of $37.27 per share, with a total value of $14,438,919.78.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK traded down $0.92 during midday trading on Tuesday, hitting $44.32. The stock had a trading volume of 1,380,325 shares, compared to its average volume of 1,689,714. The company’s 50-day moving average price is $36.21 and its 200-day moving average price is $35.28. Scholar Rock Holding Corporation has a fifty-two week low of $22.71 and a fifty-two week high of $48.28. The company has a quick ratio of 6.30, a current ratio of 6.30 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $4.52 billion, a P/E ratio of -14.07 and a beta of 0.61.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter last year, the business posted ($0.66) EPS. As a group, equities research analysts predict that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SRRK shares. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research report on Wednesday, October 8th. Bank of America started coverage on Scholar Rock in a research note on Thursday, October 9th. They set a “buy” rating and a $53.00 target price for the company. Wolfe Research started coverage on shares of Scholar Rock in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $42.00 price target on the stock. Jefferies Financial Group started coverage on shares of Scholar Rock in a report on Thursday, August 21st. They set a “buy” rating and a $50.00 price target on the stock. Finally, Truist Financial dropped their price objective on shares of Scholar Rock from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Four analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $48.33.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. acquired a new position in shares of Scholar Rock during the third quarter worth $322,000. Quarry LP bought a new position in Scholar Rock in the 3rd quarter valued at $209,000. RA Capital Management L.P. grew its position in Scholar Rock by 2.7% during the third quarter. RA Capital Management L.P. now owns 1,166,788 shares of the company’s stock valued at $43,451,000 after buying an additional 30,335 shares during the period. Paradigm Biocapital Advisors LP raised its holdings in shares of Scholar Rock by 25.6% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 2,009,745 shares of the company’s stock worth $74,843,000 after purchasing an additional 409,191 shares during the period. Finally, Mariner LLC purchased a new position in shares of Scholar Rock during the 3rd quarter valued at $372,000. 91.08% of the stock is owned by institutional investors.

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.