Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) Director Sells 5,400 Shares of Stock

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) Director Joshua Reed sold 5,400 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $160,488.00. Following the sale, the director now directly owns 15,732 shares of the company's stock, valued at approximately $467,555.04. The trade was a 25.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Scholar Rock Stock Up 4.0%

SRRK stock traded up $1.18 during mid-day trading on Tuesday, hitting $30.94. 802,164 shares of the company were exchanged, compared to its average volume of 1,268,102. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The firm has a fifty day simple moving average of $30.33 and a 200 day simple moving average of $36.12. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.94 billion, a PE ratio of -13.17 and a beta of 0.37.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in shares of Scholar Rock by 6.6% in the 1st quarter. Rhumbline Advisers now owns 120,752 shares of the company's stock valued at $3,882,000 after buying an additional 7,491 shares during the period. Strs Ohio acquired a new position in shares of Scholar Rock in the 1st quarter valued at about $77,000. Intech Investment Management LLC boosted its holdings in shares of Scholar Rock by 60.9% in the 1st quarter. Intech Investment Management LLC now owns 56,784 shares of the company's stock valued at $1,826,000 after buying an additional 21,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Scholar Rock by 25.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company's stock valued at $5,460,000 after buying an additional 34,594 shares during the period. Finally, Exome Asset Management LLC boosted its holdings in shares of Scholar Rock by 8.9% in the 1st quarter. Exome Asset Management LLC now owns 84,339 shares of the company's stock valued at $2,711,000 after buying an additional 6,900 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a report on Wednesday, May 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $42.67.

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.