Key Points
- Director purchase: Srinivas Akkaraju bought 29,599 shares on Oct. 7 at $39.92 for $1,181,592.08, raising his stake to 530,038 shares (a 5.91% increase); he also bought 387,414 shares on Oct. 3 and 113,025 shares on Oct. 6, representing nearly $20 million in early-October purchases.
- Company snapshot: Scholar Rock reported a quarterly EPS miss (‑$0.90 vs. ‑$0.88 estimate) but has a $4.52 billion market cap, 91.08% institutional ownership, and a consensus analyst rating of Buy with an average target of $48.33.
Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) Director Srinivas Akkaraju acquired 29,599 shares of the stock in a transaction on Tuesday, October 7th. The shares were bought at an average price of $39.92 per share, for a total transaction of $1,181,592.08. Following the purchase, the director owned 530,038 shares in the company, valued at approximately $21,159,116.96. This trade represents a 5.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
Srinivas Akkaraju also recently made the following trade(s):
- On Monday, October 6th, Srinivas Akkaraju bought 113,025 shares of Scholar Rock stock. The shares were bought at an average price of $38.65 per share, with a total value of $4,368,416.25.
- On Friday, October 3rd, Srinivas Akkaraju bought 387,414 shares of Scholar Rock stock. The shares were bought at an average cost of $37.27 per share, for a total transaction of $14,438,919.78.
Scholar Rock Stock Down 2.0%
Shares of NASDAQ SRRK opened at $44.32 on Wednesday. The stock has a market capitalization of $4.52 billion, a P/E ratio of -14.07 and a beta of 0.61. The stock's fifty day moving average is $36.21 and its 200 day moving average is $35.28. Scholar Rock Holding Corporation has a 52 week low of $22.71 and a 52 week high of $48.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.30 and a current ratio of 6.30.
Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.02). During the same period in the previous year, the business posted ($0.66) EPS. Sell-side analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Scholar Rock
Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. bought a new position in Scholar Rock in the third quarter valued at about $322,000. Quarry LP bought a new stake in shares of Scholar Rock during the third quarter worth about $209,000. RA Capital Management L.P. increased its stake in shares of Scholar Rock by 2.7% in the third quarter. RA Capital Management L.P. now owns 1,166,788 shares of the company's stock valued at $43,451,000 after buying an additional 30,335 shares during the period. Paradigm Biocapital Advisors LP raised its holdings in Scholar Rock by 25.6% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 2,009,745 shares of the company's stock valued at $74,843,000 after buying an additional 409,191 shares during the last quarter. Finally, Mariner LLC bought a new position in Scholar Rock in the 3rd quarter valued at approximately $372,000. Institutional investors own 91.08% of the company's stock.
Analysts Set New Price Targets
Several research firms recently issued reports on SRRK. Piper Sandler reduced their price target on shares of Scholar Rock from $52.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 24th. Leerink Partners began coverage on Scholar Rock in a research note on Monday, September 15th. They issued an "outperform" rating and a $51.00 price target on the stock. HC Wainwright lowered their price target on Scholar Rock from $50.00 to $44.00 and set a "buy" rating for the company in a report on Tuesday, September 23rd. Truist Financial reduced their price objective on Scholar Rock from $54.00 to $44.00 and set a "buy" rating on the stock in a research note on Monday, October 20th. Finally, Leerink Partnrs raised Scholar Rock to a "strong-buy" rating in a research note on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Scholar Rock presently has a consensus rating of "Buy" and an average target price of $48.33.
View Our Latest Stock Analysis on SRRK
About Scholar Rock
(
Get Free Report)
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.
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