Scholar Rock (NASDAQ:SRRK) Issues Earnings Results

Scholar Rock (NASDAQ:SRRK) released its quarterly earnings results on Wednesday. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.04), Zacks reports.

Scholar Rock Stock Up 0.9%

SRRK opened at $30.83 on Friday. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98. The business has a 50 day moving average price of $31.26 and a two-hundred day moving average price of $35.87. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $2.92 billion, a PE ratio of -13.12 and a beta of 0.37.

Insider Buying and Selling at Scholar Rock

In other news, Director Katie Peng sold 1,006 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.42, for a total transaction of $34,626.52. Following the transaction, the director now directly owns 30,319 shares in the company, valued at $1,043,579.98. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tracey Sacco sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $32.83, for a total transaction of $164,150.00. Following the completion of the sale, the insider now owns 71,750 shares of the company’s stock, valued at approximately $2,355,552.50. The trade was a 6.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 255,231 shares of company stock worth $9,220,236. 13.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Scholar Rock

A hedge fund recently raised its stake in Scholar Rock stock. AQR Capital Management LLC grew its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 609.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,294 shares of the company’s stock after purchasing an additional 49,217 shares during the period. AQR Capital Management LLC owned approximately 0.06% of Scholar Rock worth $1,842,000 at the end of the most recent reporting period. 91.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $42.67.

Scholar Rock Company Profile

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.