Insider Selling: Scholar Rock Holding Co. (NASDAQ:SRRK) Insider Sells $200,610.00 in Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) insider Akshay Vaishnaw sold 6,750 shares of the company’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the completion of the sale, the insider now owns 616,205 shares of the company’s stock, valued at approximately $18,313,612.60. The trade was a 1.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $29.13 on Monday. The stock has a 50-day moving average price of $30.38 and a 200 day moving average price of $36.10. The stock has a market capitalization of $2.77 billion, a P/E ratio of -12.40 and a beta of 0.37. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04). During the same quarter in the prior year, the company posted ($0.59) EPS. Equities research analysts forecast that Scholar Rock Holding Co. will post -2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush restated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research note on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $42.67.

Institutional Trading of Scholar Rock

Hedge funds have recently made changes to their positions in the business. CWM LLC increased its stake in Scholar Rock by 152.8% during the first quarter. CWM LLC now owns 996 shares of the company’s stock worth $32,000 after acquiring an additional 602 shares during the last quarter. Global Retirement Partners LLC increased its position in Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after acquiring an additional 766 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Scholar Rock in the first quarter worth approximately $71,000. Finally, GF Fund Management CO. LTD. boosted its holdings in Scholar Rock by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock valued at $77,000 after acquiring an additional 430 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.