Scholar Rock (NASDAQ:SRRK) CEO David Hallal Sells 30,615 Shares of Stock

Scholar Rock Holding Corporation (NASDAQ:SRRK) CEO David Hallal sold 30,615 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total value of $1,517,585.55. Following the sale, the chief executive officer directly owned 1,639,034 shares in the company, valued at $81,246,915.38. This trade represents a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Scholar Rock Trading Down 4.3%

Shares of NASDAQ SRRK 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 business has a fifty day moving average price of $46.16 and a 200 day moving average price of $42.12. The stock has a market capitalization of $5.49 billion, a P/E 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.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.86) by $0.10. During the same period in the previous year, the business posted ($0.64) earnings per share. Equities research analysts expect that Scholar Rock Holding Corporation will post -3.13 EPS for the current fiscal year.

Analysts Set New Price Targets

SRRK has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $58.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 3rd. Canaccord Genuity Group set a $62.00 target price on shares of Scholar Rock in a research note on Monday. Wedbush lifted their price target on shares of Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Truist Financial increased their price objective on Scholar Rock from $44.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Citigroup raised their price objective on Scholar Rock from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Four research 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 stock. According to MarketBeat.com, Scholar Rock presently has a consensus rating of “Buy” and an average target price of $55.40.

Hedge Funds Weigh In On Scholar Rock

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its stake in Scholar Rock by 294.1% in the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after purchasing an additional 450 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Scholar Rock during the 4th quarter valued at approximately $30,000. Summit Securities Group LLC purchased a new position in shares of Scholar Rock in the fourth quarter worth $31,000. Ramirez Asset Management Inc. purchased a new position in shares of Scholar Rock in the third quarter worth $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Scholar Rock by 151.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after buying an additional 525 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

About Scholar Rock

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).