Edward H. Myles Sells 9,458 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) Stock

Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles sold 9,458 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $84,932.84. Following the completion of the sale, the chief financial officer now directly owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Scholar Rock Stock Performance

Shares of NASDAQ:SRRK opened at $8.49 on Thursday. Scholar Rock Holding Co. has a 12-month low of $5.93 and a 12-month high of $21.17. The stock has a fifty day simple moving average of $12.24 and a two-hundred day simple moving average of $14.85. The company has a current ratio of 6.58, a quick ratio of 6.58 and a debt-to-equity ratio of 0.24.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same period in the prior year, the company posted ($0.46) EPS. As a group, equities research analysts expect that Scholar Rock Holding Co. will post -2.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors have recently made changes to their positions in SRRK. Walleye Trading LLC bought a new position in Scholar Rock in the 1st quarter valued at approximately $178,000. Jane Street Group LLC lifted its holdings in shares of Scholar Rock by 95.5% during the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock valued at $4,339,000 after purchasing an additional 119,363 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Scholar Rock during the first quarter valued at $4,900,000. Bayesian Capital Management LP bought a new stake in Scholar Rock in the 1st quarter worth about $258,000. Finally, Redmile Group LLC increased its holdings in Scholar Rock by 0.3% in the 1st quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock worth $114,012,000 after buying an additional 17,105 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

SRRK has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and issued a $20.00 price target on shares of Scholar Rock in a research note on Wednesday, April 3rd. BMO Capital Markets raised their target price on Scholar Rock from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a research report on Tuesday, June 4th. Wedbush reiterated an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a report on Tuesday, May 7th. Finally, Raymond James assumed coverage on shares of Scholar Rock in a report on Thursday, March 28th. They set a “strong-buy” rating and a $30.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $26.00.

About Scholar Rock

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.