Insider Buying: Scholar Rock (NASDAQ:SRRK) Director Buys $6,112,482.30 in Stock

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

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

• On Friday, October 23rd, Srinivas Akkaraju bought 142,500 shares of Scholar Rock stock. The shares were bought at an average price of $41.32 per share, for a total transaction of $5,888,100.00.

Scholar Rock Price Performance

SRRK stock opened at $44.18 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02. The business has a 50 day simple moving average of $48.69 and a 200-day simple moving average of $48.19. The firm has a market capitalization of $5.38 billion, a PE ratio of -12.81 and a beta of 0.61. Scholar Rock Holding Corporation has a 1 year low of $27.07 and a 1 year high of $61.76.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, meeting the consensus estimate of ($0.84). During the same period last year, the firm posted ($0.98) earnings per share. Equities research analysts anticipate that Scholar Rock Holding Corporation will post -3.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SRRK. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Scholar Rock in a research report on Monday, September 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research report on Thursday, October 15th. Raymond James Financial restated a “strong-buy” rating on shares of Scholar Rock in a research report on Thursday, October 8th. Evercore reaffirmed an “outperform” rating and set a $72.00 target price on shares of Scholar Rock in a research note on Tuesday, September 15th. Finally, BMO Capital Markets boosted their target price on shares of Scholar Rock from $76.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRRK. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Scholar Rock in the 3rd quarter valued at $301,000. State of Wyoming acquired a new stake in shares of Scholar Rock during the 3rd quarter worth about $167,000. China Universal Asset Management Co. Ltd. increased its position in shares of Scholar Rock by 16.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,221 shares of the company’s stock worth $1,061,000 after purchasing an additional 3,150 shares during the last quarter. Moody Aldrich Partners LLC increased its position in shares of Scholar Rock by 2.4% during the 3rd quarter. Moody Aldrich Partners LLC now owns 48,381 shares of the company’s stock worth $2,338,000 after purchasing an additional 1,153 shares during the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Scholar Rock by 616.3% during the 3rd quarter. Sterling Capital Management LLC now owns 3,603 shares of the company’s stock worth $174,000 after purchasing an additional 3,100 shares during the last quarter. 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.