Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) COO Keith Woods sold 10,220 shares of the business's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $506,605.40. Following the completion of the transaction, the chief operating officer owned 620,055 shares in the company, valued at $30,736,126.35. This represents a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Scholar Rock Stock Down 4.3%
Shares of Scholar Rock stock opened at $47.80 on Tuesday. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $51.63. The company has a market capitalization of $5.49 billion, a PE ratio of -13.94 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.95 and a quick ratio of 6.95. The business has a 50-day moving average of $46.16 and a 200-day moving average of $42.12.
Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.10. During the same period last year, the firm posted ($0.64) earnings per share. As a group, equities analysts forecast that Scholar Rock Holding Corporation will post -3.13 EPS for the current fiscal year.
Institutional Trading of Scholar Rock
Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its holdings in shares of Scholar Rock by 609.3% during the first quarter. AQR Capital Management LLC now owns 57,294 shares of the company's stock worth $1,842,000 after purchasing an additional 49,217 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Scholar Rock by 12.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,046 shares of the company's stock valued at $1,709,000 after buying an additional 5,831 shares during the last quarter. Millennium Management LLC grew its position in shares of Scholar Rock by 37.4% during the 1st quarter. Millennium Management LLC now owns 200,255 shares of the company's stock valued at $6,438,000 after buying an additional 54,555 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Scholar Rock by 25.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company's stock worth $5,460,000 after acquiring an additional 34,594 shares during the period. Finally, Strs Ohio bought a new position in Scholar Rock in the first quarter worth about $77,000. Institutional investors own 91.08% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Scholar Rock from $51.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Scholar Rock in a research note on Thursday, January 22nd. Canaccord Genuity Group set a $62.00 target price on shares of Scholar Rock in a research report on Monday. Wedbush upped their target price on shares of Scholar Rock from $56.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. Finally, BMO Capital Markets lifted their price target on Scholar Rock from $50.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 4th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $55.40.
Check Out Our Latest Stock Analysis on Scholar Rock
About Scholar Rock
(
Get Free Report)
Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company's research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock's approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.
The company's lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).
Further Reading
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