Scholar Rock (NASDAQ:SRRK) Director Srinivas Akkaraju Acquires 146,970 Shares of Company Stock

Scholar Rock Holding Corporation (NASDAQ:SRRK) Director Srinivas Akkaraju bought 146,970 shares of the stock in a transaction dated Monday, October 26th. The shares were acquired at an average price of $41.59 per share, with a total value of $6,112,482.30. Following the completion of the purchase, the director directly owned 6,380,517 shares of the company’s stock, valued at approximately $265,365,702.03. This represents a 2.36% 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 Friday, October 23rd, Srinivas Akkaraju bought 142,500 shares of Scholar Rock stock. The shares were acquired at an average cost of $41.32 per share, for a total transaction of $5,888,100.00.

Scholar Rock Trading Up 1.9%

NASDAQ:SRRK opened at $42.49 on Wednesday. Scholar Rock Holding Corporation has a one year low of $27.07 and a one year high of $61.76. The business’s 50-day simple moving average is $49.17 and its 200 day simple moving average is $48.17.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, meeting analysts’ consensus estimates of ($0.84). During the same period in the previous year, the company posted ($0.98) earnings per share. Sell-side analysts forecast that Scholar Rock Holding Corporation will post -3.29 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allworth Financial LP acquired a new position in shares of Scholar Rock in the 2nd quarter worth approximately $35,000. PNC Financial Services Group Inc. increased its holdings in shares of Scholar Rock by 92.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the company’s stock valued at $62,000 after acquiring an additional 610 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Scholar Rock by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock valued at $77,000 after acquiring an additional 242 shares in the last quarter. IFP Advisors Inc raised its position in shares of Scholar Rock by 219.0% during the 3rd quarter. IFP Advisors Inc now owns 1,560 shares of the company’s stock valued at $75,000 after acquiring an additional 1,071 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Scholar Rock during the second quarter worth $99,000. Institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Scholar Rock from $63.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. UBS Group restated a “buy” rating on shares of Scholar Rock in a research note on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a report on Thursday, October 15th. BMO Capital Markets increased their price objective on shares of Scholar Rock from $76.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. Finally, Jefferies Financial Group increased their price objective on shares of Scholar Rock from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Four research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.67.

About Scholar Rock

Scholar Rock, Inc is a biotechnology company focused on developing medicines that selectively target growth factors in the transforming growth factor beta (TGF-β) superfamily. The company’s research is intended to address serious diseases in which these signaling pathways play an important role, including neuromuscular and metabolic conditions.

Scholar Rock’s lead investigational product is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin, a protein that limits muscle growth.