Scholar Rock (NASDAQ:SRRK) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Scholar Rock (NASDAQ:SRRK) released its quarterly earnings results on Wednesday. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04), Zacks reports.

Scholar Rock Price Performance

NASDAQ:SRRK opened at $30.83 on Friday. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $46.98. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -13.12 and a beta of 0.37. The company’s 50-day moving average is $31.26 and its two-hundred day moving average is $35.87. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Analysts Set New Price Targets

Separately, Wedbush reissued an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Scholar Rock has an average rating of “Buy” and a consensus target price of $42.67.

Insider Activity at Scholar Rock

In related news, CFO Edward H. Myles sold 7,809 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $287,605.47. Following the sale, the chief financial officer now directly owns 140,740 shares of the company’s stock, valued at approximately $5,183,454.20. This trade represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay T. Backstrom sold 18,372 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $676,640.76. Following the transaction, the chief executive officer now directly owns 311,991 shares of the company’s stock, valued at $11,490,628.53. This trade represents a 5.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,231 shares of company stock valued at $9,220,236. Company insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

An institutional investor recently raised its position in Scholar Rock stock. AQR Capital Management LLC increased its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 609.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,294 shares of the company’s stock after buying an additional 49,217 shares during the quarter. AQR Capital Management LLC owned about 0.06% of Scholar Rock worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.