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

Scholar Rock Holding Corporation (NASDAQ:SRRK) Director Srinivas Akkaraju acquired 146,970 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was purchased at an average price of $41.59 per share, with a total value of $6,112,482.30. Following the completion of the transaction, the director owned 6,380,517 shares of the company’s stock, valued at approximately $265,365,702.03. This trade represents a 2.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, October 23rd, Srinivas Akkaraju acquired 142,500 shares of Scholar Rock stock. The shares were purchased at an average cost of $41.32 per share, with a total value of $5,888,100.00.

Scholar Rock Stock Performance

Scholar Rock stock traded up $0.78 during trading hours on Tuesday, reaching $42.49. 1,157,863 shares of the company’s stock traded hands. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $61.76. The firm’s 50 day moving average is $49.17 and its 200-day 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, hitting the consensus estimate of ($0.84). During the same quarter last year, the firm posted ($0.98) EPS. Equities analysts anticipate that Scholar Rock Holding Corporation will post -3.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore reissued an “outperform” rating and issued a $72.00 target price on shares of Scholar Rock in a research note on Tuesday, September 15th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 target price on shares of Scholar Rock in a research report on Monday, September 21st. Barclays lowered Scholar Rock from an “overweight” rating to a “cautious” rating in a research report on Tuesday, September 15th. UBS Group reaffirmed a “buy” rating on shares of Scholar Rock in a research note on Tuesday, September 15th. Finally, Citigroup increased their price target on shares of Scholar Rock from $60.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.67.

Institutional Investors Weigh In On Scholar Rock

Hedge funds have recently modified their holdings of the business. Nicholas Investment Partners LP bought a new position in shares of Scholar Rock during the second quarter worth about $4,968,000. Squarepoint Ops LLC raised its position in Scholar Rock by 484.5% in the 2nd quarter. Squarepoint Ops LLC now owns 291,996 shares of the company’s stock valued at $16,060,000 after buying an additional 242,041 shares during the last quarter. Senator Investment Group LP acquired a new stake in Scholar Rock in the 2nd quarter valued at approximately $11,275,000. BlackRock Inc. bought a new stake in Scholar Rock in the 2nd quarter valued at approximately $522,175,000. Finally, Legal & General Group Plc bought a new stake in Scholar Rock in the 2nd quarter valued at approximately $3,363,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Company Profile

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.