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

Scholar Rock Holding Corporation (NASDAQ:SRRK) insider Mo Qatanani sold 136,462 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $45.21, for a total transaction of $6,169,447.02. Following the completion of the transaction, the insider directly owned 108,964 shares in the company, valued at approximately $4,926,262.44. The trade was a 55.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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 shares were sold at an average price of $33.52, for a total value of $106,526.56.

Scholar Rock Stock Performance

Shares of NASDAQ SRRK traded down $0.18 during mid-day trading on Friday, hitting $45.02. The company had a trading volume of 1,119,336 shares, compared to its average volume of 1,650,312. The stock’s 50-day moving average price is $34.97 and its 200-day moving average price is $34.36. The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.41. Scholar Rock Holding Corporation has a 1 year low of $22.71 and a 1 year high of $46.98. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -14.29 and a beta of 0.61.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Scholar Rock by 12.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,557 shares of the company’s stock worth $597,000 after purchasing an additional 2,051 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Scholar Rock in the 1st quarter valued at about $71,000. XTX Topco Ltd bought a new position in Scholar Rock in the first quarter worth approximately $422,000. Vanguard Group Inc. raised its stake in Scholar Rock by 2.1% in the first quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company’s stock worth $155,773,000 after buying an additional 101,723 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Scholar Rock by 10.1% during the 1st quarter. Swiss National Bank now owns 127,000 shares of the company’s stock worth $4,083,000 after purchasing an additional 11,600 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on SRRK shares. Piper Sandler reduced their target price on Scholar Rock from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Bank of America started coverage on shares of Scholar Rock in a report on Thursday, October 9th. They set a “buy” rating and a $53.00 price target on the stock. Jefferies Financial Group assumed coverage on Scholar Rock in a report on Thursday, August 21st. They set a “buy” rating and a $50.00 price target on the stock. HC Wainwright lowered their price objective on shares of Scholar Rock from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, September 23rd. Finally, Leerink Partners initiated coverage on Scholar Rock in a research note on Monday, September 15th. They issued an “outperform” rating and a $51.00 price target on the stock. Four research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $48.33.

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.