Srinivas Akkaraju Purchases 387,414 Shares of Scholar Rock (NASDAQ:SRRK) Stock

Scholar Rock Holding Corporation (NASDAQ:SRRK) Director Srinivas Akkaraju acquired 387,414 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were bought at an average cost of $37.27 per share, with a total value of $14,438,919.78. Following the purchase, the director owned 387,414 shares in the company, valued at approximately $14,438,919.78. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, October 6th, Srinivas Akkaraju acquired 113,025 shares of Scholar Rock stock. The shares were bought at an average cost of $38.65 per share, with a total value of $4,368,416.25.

Scholar Rock Trading Down 2.1%

NASDAQ SRRK opened at $38.69 on Thursday. Scholar Rock Holding Corporation has a 12 month low of $22.71 and a 12 month high of $46.98. The company has a 50-day moving average of $33.92 and a 200-day moving average of $33.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The company has a market cap of $3.72 billion, a P/E ratio of -13.30 and a beta of 0.42.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.32). During the same period last year, the firm posted ($0.60) earnings per share. As a group, equities analysts predict that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SRRK. Leerink Partners began coverage on Scholar Rock in a report on Monday, September 15th. They set an “outperform” rating and a $51.00 target price for the company. Barclays decreased their target price on Scholar Rock from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Jefferies Financial Group began coverage on Scholar Rock in a report on Thursday, August 21st. They set a “buy” rating and a $50.00 target price for the company. HC Wainwright decreased their target price on Scholar Rock from $50.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, September 23rd. Finally, Wedbush restated an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a report on Wednesday, June 18th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Scholar Rock currently has an average rating of “Buy” and an average target price of $46.40.

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC boosted its stake in shares of Scholar Rock by 86.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company’s stock valued at $28,207,000 after buying an additional 406,074 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Scholar Rock by 2.5% during the 1st quarter. Northern Trust Corp now owns 765,280 shares of the company’s stock valued at $24,604,000 after buying an additional 18,753 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Scholar Rock by 3,824.9% during the 1st quarter. GAMMA Investing LLC now owns 30,928 shares of the company’s stock valued at $962,000 after buying an additional 30,140 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Scholar Rock during the 1st quarter valued at approximately $458,000. Finally, Intech Investment Management LLC boosted its stake in shares of Scholar Rock by 60.9% during the 1st quarter. Intech Investment Management LLC now owns 56,784 shares of the company’s stock valued at $1,826,000 after buying an additional 21,483 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.