Joshua Reed Sells 5,400 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) Director Joshua Reed sold 5,400 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $160,488.00. Following the sale, the director now directly owns 15,732 shares of the company’s stock, valued at $467,555.04. This represents a 25.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Scholar Rock Price Performance

SRRK opened at $29.13 on Monday. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a 50 day moving average of $30.38 and a two-hundred day moving average of $36.10. The company has a market cap of $2.77 billion, a P/E ratio of -12.40 and a beta of 0.37. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same quarter last year, the business posted ($0.59) EPS. On average, analysts expect that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SRRK. Global Retirement Partners LLC boosted its position in shares of Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after buying an additional 766 shares during the period. CWM LLC lifted its position in Scholar Rock by 152.8% during the 1st quarter. CWM LLC now owns 996 shares of the company’s stock worth $32,000 after acquiring an additional 602 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after acquiring an additional 1,031 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Scholar Rock in the 4th quarter worth approximately $85,000. Finally, Federated Hermes Inc. acquired a new stake in Scholar Rock in the first quarter valued at approximately $71,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analysts Set New Price Targets

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

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.