Scholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report) Director Srinivas Akkaraju acquired 142,500 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was acquired at an average cost of $41.32 per share, with a total value of $5,888,100.00. Following the completion of the transaction, the director owned 6,331,529 shares of the company’s stock, valued at approximately $261,618,778.28. The trade was a 2.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Srinivas Akkaraju also recently made the following trade(s):
- On Monday, October 26th, Srinivas Akkaraju bought 146,970 shares of Scholar Rock stock. The shares were acquired at an average price of $41.59 per share, with a total value of $6,112,482.30.
Scholar Rock Price Performance
SRRK stock opened at $42.49 on Wednesday. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $61.76. The business’s 50 day simple moving average is $49.17 and its 200 day simple moving average is $48.17.
Scholar Rock (NASDAQ:SRRK – Get Free Report) last posted its quarterly 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 firm posted ($0.98) earnings per share. As a group, analysts anticipate that Scholar Rock Holding Corporation will post -3.29 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Scholar Rock
A number of hedge funds have recently bought and sold shares of SRRK. GAMMA Investing LLC raised its stake in Scholar Rock by 20.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock worth $77,000 after purchasing an additional 242 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Scholar Rock by 28.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,618 shares of the company’s stock valued at $127,000 after purchasing an additional 574 shares during the period. Syon Capital LLC grew its position in shares of Scholar Rock by 6.4% during the 2nd quarter. Syon Capital LLC now owns 9,782 shares of the company’s stock worth $538,000 after purchasing an additional 588 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of 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 purchasing an additional 610 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Scholar Rock during the 2nd quarter worth approximately $35,000. 91.08% of the stock is owned by institutional investors.
Analysts Set New Price Targets
SRRK has been the topic of several research analyst reports. Barclays cut shares of Scholar Rock from an “overweight” rating to a “cautious” rating in a report on Tuesday, September 15th. BMO Capital Markets increased their target price on Scholar Rock from $76.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 14th. Jefferies Financial Group lifted their price target on Scholar Rock from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Scholar Rock in a report on Monday, September 21st. Finally, Truist Financial boosted their price target on Scholar Rock from $76.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Four research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.67.
Check Out Our Latest Report on SRRK
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.
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