Insider Selling: Scholar Rock Holding Corporation (NASDAQ:SRRK) Director Sells 20,316 Shares of Stock

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) Director Jeffrey S. Flier sold 20,316 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $32.24, for a total transaction of $654,987.84. Following the sale, the director now owns 24,070 shares in the company, valued at $776,016.80. This represents a 45.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Scholar Rock Trading Up 7.2%

Scholar Rock stock traded up $2.40 during midday trading on Wednesday, reaching $35.81. The stock had a trading volume of 1,525,718 shares, compared to its average volume of 1,297,592. The company has a quick ratio of 10.25, a current ratio of 10.25 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -14.15 and a beta of 0.28. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a fifty day moving average of $31.80 and a 200 day moving average of $35.88.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period in the previous year, the firm posted ($0.59) earnings per share. On average, analysts anticipate that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Scholar Rock

Several hedge funds have recently bought and sold shares of SRRK. CWM LLC boosted its stake in shares of 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 during the period. Global Retirement Partners LLC lifted its holdings in Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock valued at $39,000 after buying an additional 766 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Scholar Rock in the 1st quarter valued at about $71,000. GF Fund Management CO. LTD. grew its stake in Scholar Rock by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after acquiring an additional 430 shares in the last quarter. Finally, Strs Ohio bought a new position in Scholar Rock in the 1st quarter worth about $77,000. Institutional investors own 91.08% of the company's stock.

About Scholar Rock

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.