Insider Buying: Scholar Rock (NASDAQ:SRRK) Director Purchases 29,599 Shares of Stock

Scholar Rock Holding Corporation (NASDAQ:SRRK) Director Srinivas Akkaraju acquired 29,599 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were acquired at an average cost of $39.92 per share, with a total value of $1,181,592.08. Following the completion of the purchase, the director owned 530,038 shares in the company, valued at approximately $21,159,116.96. This represents a 5.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, October 6th, Srinivas Akkaraju purchased 113,025 shares of Scholar Rock stock. The stock was bought at an average price of $38.65 per share, for a total transaction of $4,368,416.25.
• On Friday, October 3rd, Srinivas Akkaraju bought 387,414 shares of Scholar Rock stock. The stock was acquired at an average cost of $37.27 per share, for a total transaction of $14,438,919.78.

Scholar Rock Stock Down 2.0%

SRRK traded down $0.92 on Tuesday, reaching $44.32. The company’s stock had a trading volume of 1,380,325 shares, compared to its average volume of 1,689,714. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of -14.07 and a beta of 0.61. The business’s 50 day moving average is $36.21 and its 200 day moving average is $35.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.30 and a quick ratio of 6.30. Scholar Rock Holding Corporation has a 1 year low of $22.71 and a 1 year high of $48.28.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). During the same period last year, the company earned ($0.66) earnings per share. As a group, research analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wolfe Research initiated coverage on shares of Scholar Rock in a report on Tuesday, November 18th. They issued an “outperform” rating and a $42.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Scholar Rock from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Jefferies Financial Group started coverage on Scholar Rock in a research report on Thursday, August 21st. They issued a “buy” rating and a $50.00 price target for the company. Finally, Barclays upped their price target on shares of Scholar Rock from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Four analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $48.33.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the stock. Ramirez Asset Management Inc. bought a new stake in shares of Scholar Rock during the 3rd quarter worth approximately $37,000. Penserra Capital Management LLC acquired a new stake in shares of Scholar Rock during the 3rd quarter worth about $56,000. Bessemer Group Inc. grew its stake in Scholar Rock by 970.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,322 shares of the company’s stock valued at $86,000 after buying an additional 2,105 shares during the last quarter. Strs Ohio bought a new position in Scholar Rock in the 1st quarter valued at about $77,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Scholar Rock during the second quarter worth approximately $94,000. 91.08% of the stock is owned by institutional investors.

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.