Scholar Rock (NASDAQ:SRRK) Posts Quarterly Earnings Results, Hits Expectations

Scholar Rock (NASDAQ:SRRK - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.60) EPS for the quarter, hitting the consensus estimate of ($0.60), Zacks reports.

Scholar Rock Price Performance

Shares of SRRK stock traded down $2.59 during trading hours on Monday, hitting $36.23. The stock had a trading volume of 1,232,964 shares, compared to its average volume of 899,153. The stock's 50-day moving average price is $41.22 and its two-hundred day moving average price is $29.64. Scholar Rock has a one year low of $6.76 and a one year high of $46.98. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -15.42 and a beta of 0.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SRRK shares. Wedbush reissued an "outperform" rating and issued a $47.00 price target on shares of Scholar Rock in a research report on Wednesday, January 29th. Truist Financial boosted their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, HC Wainwright increased their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $40.43.

Insider Buying and Selling at Scholar Rock

In related news, insider Mo Qatanani sold 68,510 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total value of $2,562,274.00. Following the completion of the transaction, the insider now directly owns 111,084 shares of the company's stock, valued at approximately $4,154,541.60. This trade represents a 38.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jay T. Backstrom sold 22,308 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the sale, the chief executive officer now directly owns 330,363 shares in the company, valued at approximately $14,602,044.60. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 149,974 shares of company stock worth $5,927,710 in the last quarter. 19.20% of the stock is owned by corporate insiders.

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.