Mo Qatanani Sells 136,462 Shares of Scholar Rock (NASDAQ:SRRK) Stock

by · The Markets Daily

Scholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report) insider Mo Qatanani sold 136,462 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $45.21, for a total value of $6,169,447.02. Following the completion of the sale, the insider directly owned 108,964 shares of the company’s stock, valued at $4,926,262.44. The trade was a 55.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mo Qatanani also recently made the following trade(s):

  • On Monday, September 22nd, Mo Qatanani sold 3,353 shares of Scholar Rock stock. The stock was sold at an average price of $30.67, for a total transaction of $102,836.51.
  • On Tuesday, September 16th, Mo Qatanani sold 3,178 shares of Scholar Rock stock. The stock was sold at an average price of $33.52, for a total transaction of $106,526.56.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK opened at $45.02 on Friday. Scholar Rock Holding Corporation has a one year low of $22.71 and a one year high of $46.98. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of -14.29 and a beta of 0.61. The company has a 50-day simple moving average of $35.09 and a 200-day simple moving average of $34.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.30 and a current ratio of 6.30.

Scholar Rock (NASDAQ:SRRK – Get Free Report) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). During the same period in the previous year, the firm earned ($0.66) earnings per share. On average, analysts predict that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays increased their price target on Scholar Rock from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. HC Wainwright cut their price objective on shares of Scholar Rock from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, September 23rd. Piper Sandler reduced their target price on shares of Scholar Rock from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. Jefferies Financial Group assumed coverage on shares of Scholar Rock in a research note on Thursday, August 21st. They set a “buy” rating and a $50.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $48.33.

View Our Latest Stock Report on SRRK

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently made changes to their positions in SRRK. Wellington Management Group LLP lifted its stake in shares of Scholar Rock by 124.5% in the third quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock valued at $169,289,000 after purchasing an additional 2,521,022 shares during the period. Holocene Advisors LP purchased a new position in Scholar Rock in the third quarter valued at about $91,670,000. Vestal Point Capital LP purchased a new position in Scholar Rock in the first quarter valued at about $41,795,000. Norges Bank acquired a new stake in shares of Scholar Rock during the 2nd quarter valued at approximately $41,628,000. Finally, RA Capital Management L.P. boosted its stake in shares of Scholar Rock by 6,351.3% during the 1st quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company’s stock worth $36,537,000 after acquiring an additional 1,118,837 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

About Scholar Rock

(Get Free Report)

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.

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