Scholar Rock (NASDAQ:SRRK) COO Sells $506,605.40 in Stock

Key Points

• COO Keith Woods sold 10,220 shares at an average price of $49.57 on April 16 for total proceeds of $506,605.40, cutting his stake by 1.62% to 620,055 shares to cover tax withholding on vested awards.
• Shares fell about 4.3% to $47.80 on Monday (volume ~1.13M); the company has a market cap of $5.49B and a negative P/E of -13.94, while analysts remain broadly positive with a consensus "Buy" and an average price target of $55.40.

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) COO Keith Woods sold 10,220 shares of the firm's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $506,605.40. Following the sale, the chief operating officer owned 620,055 shares of the company's stock, valued at $30,736,126.35. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Scholar Rock Stock Down 4.3%

Shares of SRRK traded down $2.16 during trading hours on Monday, reaching $47.80. The company's stock had a trading volume of 1,128,695 shares, compared to its average volume of 1,353,022. The company has a 50 day moving average of $46.16 and a two-hundred day moving average of $42.03. The company has a quick ratio of 6.95, a current ratio of 6.95 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of -13.94 and a beta of 0.68. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $51.63.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.10. During the same quarter last year, the firm earned ($0.64) EPS. As a group, research analysts predict that Scholar Rock Holding Corporation will post -3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in shares of Scholar Rock by 609.3% during the 1st quarter. AQR Capital Management LLC now owns 57,294 shares of the company's stock worth $1,842,000 after buying an additional 49,217 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Scholar Rock by 12.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,046 shares of the company's stock valued at $1,709,000 after purchasing an additional 5,831 shares during the period. Millennium Management LLC increased its position in Scholar Rock by 37.4% in the 1st quarter. Millennium Management LLC now owns 200,255 shares of the company's stock worth $6,438,000 after buying an additional 54,555 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Scholar Rock by 25.6% in the first 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 acquiring an additional 34,594 shares during the period. Finally, Strs Ohio bought a new position in Scholar Rock during the first quarter worth $77,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Raymond James Financial restated a "strong-buy" rating on shares of Scholar Rock in a report on Tuesday, March 3rd. Piper Sandler increased their price objective on Scholar Rock from $51.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. HC Wainwright restated a "buy" rating and issued a $58.00 target price on shares of Scholar Rock in a research note on Tuesday, March 3rd. Barclays upped their target price on Scholar Rock from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Finally, UBS Group assumed coverage on Scholar Rock in a research note on Wednesday, January 7th. They set a "buy" rating and a $60.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $55.40.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.