Scholar Rock (NASDAQ:SRRK) Director Purchases $14,438,919.78 in Stock

Key Points

• Scholar Rock's Director, Srinivas Akkaraju, purchased 387,414 shares for approximately $14.44 million at an average price of $37.27 each on October 3rd, significantly increasing his stake in the company.
• The company's stock recently traded at $39.50, experiencing a decline of $0.30, with a market capitalization of $3.80 billion and a PE ratio of -13.57.
• Scholar Rock received mixed analyst ratings with target prices ranging from $44.00 to $51.00, reflecting varying expectations among analysts for the company’s stock performance.

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) Director Srinivas Akkaraju bought 387,414 shares of the company's stock in a transaction on Friday, October 3rd. The shares were acquired at an average cost of $37.27 per share, for a total transaction of $14,438,919.78. Following the completion of the acquisition, the director directly owned 387,414 shares of the company's stock, valued at $14,438,919.78. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, October 6th, Srinivas Akkaraju purchased 113,025 shares of Scholar Rock stock. The shares were purchased at an average price of $38.65 per share, with a total value of $4,368,416.25.

Scholar Rock Stock Performance

Shares of Scholar Rock stock traded down $0.30 during trading on Tuesday, hitting $39.50. 1,523,402 shares of the stock were exchanged, compared to its average volume of 2,688,819. The stock's fifty day moving average is $33.90 and its 200 day moving average is $33.23. The stock has a market cap of $3.80 billion, a PE ratio of -13.57 and a beta of 0.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.33 and a current ratio of 6.33. Scholar Rock Holding Corporation has a 12 month low of $22.71 and a 12 month high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period last year, the company posted ($0.60) EPS. As a group, sell-side analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Analyst Ratings Changes

SRRK has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Scholar Rock from $45.00 to $44.00 and set an "overweight" rating for the company in a report on Wednesday, September 24th. Leerink Partners initiated coverage on shares of Scholar Rock in a report on Monday, September 15th. They issued an "outperform" rating and a $51.00 target price for the company. Wedbush reiterated an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a report on Wednesday, June 18th. Piper Sandler decreased their target price on shares of Scholar Rock from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, September 24th. Finally, Leerink Partnrs upgraded shares of Scholar Rock to a "strong-buy" rating in a report on Monday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Scholar Rock presently has an average rating of "Buy" and a consensus target price of $46.40.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Scholar Rock by 3,824.9% during the first quarter. GAMMA Investing LLC now owns 30,928 shares of the company's stock valued at $962,000 after acquiring an additional 30,140 shares during the period. Rhumbline Advisers lifted its holdings in shares of Scholar Rock by 6.6% during the first quarter. Rhumbline Advisers now owns 120,752 shares of the company's stock valued at $3,882,000 after acquiring an additional 7,491 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Scholar Rock by 11.1% during the first quarter. SG Americas Securities LLC now owns 24,122 shares of the company's stock valued at $776,000 after acquiring an additional 2,412 shares during the period. GF Fund Management CO. LTD. lifted its holdings in shares of Scholar Rock by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after acquiring an additional 430 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Scholar Rock by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 216,223 shares of the company's stock valued at $6,952,000 after acquiring an additional 8,731 shares during the period. Institutional investors and hedge funds 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.

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