Scholar Rock (NASDAQ:SRRK) Director Srinivas Akkaraju Acquires 387,414 Shares of Stock

Scholar Rock Holding Corporation (NASDAQ:SRRK) Director Srinivas Akkaraju purchased 387,414 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was purchased at an average price of $37.27 per share, with a total value of $14,438,919.78. Following the purchase, the director owned 387,414 shares of the company’s stock, valued at approximately $14,438,919.78. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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 purchased at an average price of $38.65 per share, with a total value of $4,368,416.25.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $39.50 on Wednesday. The stock has a market cap of $3.80 billion, a P/E ratio of -13.57 and a beta of 0.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The company has a fifty day moving average price of $33.90 and a two-hundred day moving average price of $33.23. Scholar Rock Holding Corporation has a one year low of $22.71 and a one year high of $46.98.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.32). During the same quarter in the previous year, the business posted ($0.60) EPS. As a group, equities analysts predict that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Hedge Funds Weigh In On Scholar Rock

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Scholar Rock by 3,824.9% in the 1st quarter. GAMMA Investing LLC now owns 30,928 shares of the company’s stock valued at $962,000 after buying an additional 30,140 shares during the period. Rhumbline Advisers increased its holdings in Scholar Rock by 6.6% in the 1st quarter. Rhumbline Advisers now owns 120,752 shares of the company’s stock valued at $3,882,000 after buying an additional 7,491 shares during the period. SG Americas Securities LLC increased its holdings in Scholar Rock by 11.1% in the 1st quarter. SG Americas Securities LLC now owns 24,122 shares of the company’s stock valued at $776,000 after buying an additional 2,412 shares during the period. GF Fund Management CO. LTD. increased its holdings in Scholar Rock by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock valued at $77,000 after buying an additional 430 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Scholar Rock by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 216,223 shares of the company’s stock valued at $6,952,000 after buying an additional 8,731 shares during the period. 91.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SRRK. Barclays cut 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. Wedbush restated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research note on Wednesday, June 18th. Leerink Partners began coverage on shares of Scholar Rock in a research note on Monday, September 15th. They set an “outperform” rating and a $51.00 target price for the company. Leerink Partnrs upgraded shares of Scholar Rock to a “strong-buy” rating in a research note on Monday, September 15th. Finally, Jefferies Financial Group initiated coverage on shares of Scholar Rock in a research note on Thursday, August 21st. They set a “buy” rating and a $50.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average 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.