Scholar Rock Holding Co. (NASDAQ:SRRK) Insider Akshay Vaishnaw Sells 6,750 Shares

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) insider Akshay Vaishnaw sold 6,750 shares of Scholar Rock stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $200,610.00. Following the completion of the sale, the insider now directly owns 616,205 shares of the company's stock, valued at approximately $18,313,612.60. This represents a 1.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Scholar Rock Trading Down 2.4%

SRRK stock traded down $0.71 during trading on Friday, reaching $29.13. 1,368,000 shares of the stock traded hands, compared to its average volume of 1,270,141. The business's 50 day moving average price is $30.38 and its 200-day moving average price is $36.04. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The firm has a market capitalization of $2.77 billion, a PE ratio of -12.40 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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same quarter in the previous year, the firm earned ($0.59) earnings per share. As a group, sell-side analysts forecast that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after buying an additional 602 shares during the period. Global Retirement Partners LLC boosted its position in shares of Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock worth $39,000 after buying an additional 766 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock worth $48,000 after buying an additional 1,031 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Scholar Rock in the first quarter worth about $71,000. Finally, GF Fund Management CO. LTD. boosted its position in shares of Scholar Rock by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after buying an additional 430 shares during the period. Hedge funds and other institutional investors own 91.08% of the company's stock.

Analyst Upgrades and Downgrades

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

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.