Key Points
- Director Srinivas Akkaraju bought 142,500 Scholar Rock shares at an average $41.32 per share, investing approximately $5.89 million and increasing his direct ownership by 2.3% to 6.33 million shares. He also purchased another 146,970 shares the following week.
- Scholar Rock shares opened at $42.49, with the stock trading below its 50-day and 200-day moving averages and within a 52-week range of $27.07 to $61.76.
- Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $67.67, although ratings range from “Strong Buy” to “Sell.” Institutional investors own 91.08% of the company.
Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) Director Srinivas Akkaraju purchased 142,500 shares of Scholar Rock stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average cost of $41.32 per share, for a total transaction of $5,888,100.00. Following the transaction, the director directly owned 6,331,529 shares of the company's stock, valued at $261,618,778.28. This represents a 2.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Srinivas Akkaraju also recently made the following trade(s):
- On Monday, October 26th, Srinivas Akkaraju acquired 146,970 shares of Scholar Rock stock. The shares were bought at an average price of $41.59 per share, for a total transaction of $6,112,482.30.
Scholar Rock Stock Up 1.9%
Shares of NASDAQ SRRK opened at $42.49 on Wednesday. The business has a fifty day moving average price of $49.17 and a two-hundred day moving average price of $48.17. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $61.76.
Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.84). During the same period in the prior year, the company earned ($0.98) EPS. As a group, equities analysts anticipate that Scholar Rock Holding Corporation will post -3.29 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Allworth Financial LP bought a new position in shares of Scholar Rock in the 2nd quarter valued at $35,000. PNC Financial Services Group Inc. grew its position in Scholar Rock by 92.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the company's stock worth $62,000 after acquiring an additional 610 shares during the last quarter. IFP Advisors Inc grew its position in Scholar Rock by 219.0% during the 3rd quarter. IFP Advisors Inc now owns 1,560 shares of the company's stock worth $75,000 after acquiring an additional 1,071 shares during the last quarter. GAMMA Investing LLC grew its position in Scholar Rock by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company's stock worth $77,000 after acquiring an additional 242 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Scholar Rock in the 2nd quarter worth about $99,000. 91.08% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently commented on SRRK. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Scholar Rock in a research note on Thursday, October 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Scholar Rock in a research report on Thursday, October 15th. JPMorgan Chase & Co. upped their price target on shares of Scholar Rock from $63.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, September 21st. Barclays lowered shares of Scholar Rock from an "overweight" rating to a "cautious" rating in a research report on Tuesday, September 15th. Finally, BMO Capital Markets lifted their price objective on shares of Scholar Rock from $76.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, September 14th. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.67.
Get Our Latest Stock Report on SRRK
Scholar Rock Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
