Srinivas Akkaraju Acquires 113,025 Shares of Scholar Rock (NASDAQ:SRRK) Stock

Key Points

• Srinivas Akkaraju, a director at Scholar Rock, acquired 113,025 shares at an average price of $38.65, increasing his ownership by 29.17% to a total of 500,439 shares.
• Scholar Rock's stock is currently valued at $39.50, reflecting a 0.8% decline in trading, and the company has a market capitalization of $3.80 billion.
• The company reported a loss of ($0.98) earnings per share for the last quarter, missing expectations, and analysts predict it will post ($2.42 EPS) for the current year.

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) Director Srinivas Akkaraju acquired 113,025 shares of the stock in a transaction dated Monday, October 6th. The stock was acquired at an average price of $38.65 per share, for a total transaction of $4,368,416.25. Following the completion of the acquisition, the director directly owned 500,439 shares of the company's stock, valued at $19,341,967.35. The trade was a 29.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, October 3rd, Srinivas Akkaraju acquired 387,414 shares of Scholar Rock stock. The stock was acquired at an average price of $37.27 per share, for a total transaction of $14,438,919.78.

Scholar Rock Stock Down 0.8%

Shares of NASDAQ SRRK traded down $0.30 during midday trading on Tuesday, reaching $39.50. The company's stock had a trading volume of 1,523,402 shares, compared to its average volume of 2,688,819. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock Holding Corporation has a fifty-two week low of $22.71 and a fifty-two week high of $46.98. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -13.57 and a beta of 0.42. The stock has a 50 day simple moving average of $33.90 and a 200-day simple moving average of $33.23.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.32). During the same quarter in the prior year, the business posted ($0.60) EPS. Equities research analysts predict that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on SRRK. Weiss Ratings reissued a "sell (d-)" rating on shares of Scholar Rock in a research note on Saturday, September 27th. Leerink Partners began coverage on shares of Scholar Rock in a research note on Monday, September 15th. They issued an "outperform" rating and a $51.00 target price for the company. HC Wainwright decreased their target price on shares of Scholar Rock from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, September 23rd. 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 research note on Wednesday, September 24th. Finally, 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 research note on Wednesday, September 24th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $46.40.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently modified their holdings of the business. CWM LLC raised its stake in Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after purchasing an additional 602 shares in the last quarter. Federated Hermes Inc. acquired a new position in Scholar Rock in the first quarter valued at about $71,000. GF Fund Management CO. LTD. raised its stake in Scholar Rock by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after purchasing an additional 430 shares in the last quarter. Strs Ohio acquired a new position in Scholar Rock in the first quarter valued at about $77,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Scholar Rock in the second quarter valued at about $94,000. Institutional investors own 91.08% of the company's stock.

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.

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