Scholar Rock (NASDAQ:SRRK) Insider Sells $102,836.51 in Stock

Key Points

• Mo Qatanani, an insider at Scholar Rock, sold 3,353 shares of the company for a total of $102,836.51, reducing their position by 2.99%.
• Scholar Rock's stock price decreased by 0.1% to $33.72 with a market cap of $3.24 billion and a price-to-earnings ratio of -11.59.
• Recent quarterly earnings revealed a loss of ($0.98) earnings per share, missing estimates, with analysts forecasting -2.42 earnings per share for the current fiscal year.

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) insider Mo Qatanani sold 3,353 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $30.67, for a total transaction of $102,836.51. Following the transaction, the insider directly owned 108,964 shares in the company, valued at approximately $3,341,925.88. The trade was a 2.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Mo Qatanani also recently made the following trade(s):

• On Tuesday, September 16th, Mo Qatanani sold 3,178 shares of Scholar Rock stock. The shares were sold at an average price of $33.52, for a total value of $106,526.56.
• On Tuesday, July 8th, Mo Qatanani sold 24,066 shares of Scholar Rock stock. The stock was sold at an average price of $34.44, for a total transaction of $828,833.04.

Scholar Rock Stock Down 0.1%

Scholar Rock stock traded down $0.03 during mid-day trading on Wednesday, hitting $33.72. The company had a trading volume of 2,235,077 shares, compared to its average volume of 1,390,349. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -11.59 and a beta of 0.36. Scholar Rock Holding Corporation has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $34.47 and a 200 day moving average of $33.05.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period in the previous year, the business earned ($0.60) earnings per share. On average, sell-side analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of SRRK. CWM LLC raised its stake in Scholar Rock by 152.8% during the first quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after acquiring an additional 602 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Scholar Rock during the 1st quarter valued at $71,000. GF Fund Management CO. LTD. boosted its position in shares of 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 purchasing an additional 430 shares during the last quarter. Strs Ohio bought a new position in shares of Scholar Rock in the 1st quarter worth $77,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Scholar Rock in the 2nd quarter worth $94,000. Institutional investors own 91.08% of the company's stock.

Analyst Ratings Changes

SRRK has been the topic of several research reports. Raymond James Financial set a $53.00 price target on Scholar Rock and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Barclays lowered their price objective on Scholar Rock from $45.00 to $44.00 and set an "overweight" rating for the company in a research note on Wednesday. Leerink Partners initiated coverage on Scholar Rock in a research note on Monday, September 15th. They set an "outperform" rating and a $51.00 price target for the company. Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Finally, Wedbush reaffirmed an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a report on Wednesday, June 18th. Three analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $46.40.

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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