CAMBRIDGE, MA— Scholar Rock Holding Corp (NASDAQ:SRRK) has reported recent stock transactions involving its Chief Medical (TASE:PMCN) Officer, Jing L. Marantz. According to the SEC filing, Marantz executed several transactions on November 22 and November 25.
On November 22, Marantz acquired 2,145 shares of common stock at $8.59 per share, followed by a sale of the same number of shares at a weighted average price of $30.0102, with the sale price ranging from $30.00 to $30.08. This transaction was part of a Rule 10b5-1 trading plan.
On November 25, Marantz exercised stock options to acquire 6,375 shares at $8.59 per share. Subsequently, Marantz sold 6,375 shares in multiple transactions at prices ranging from $37.63 to $40.79. These sales generated a total of $315,771.
After these transactions, Marantz holds 72,855 shares of Scholar Rock common stock.
In other recent news, Scholar Rock has been the focus of various analyst firms following significant developments. H.C. Wainwright, Truist Securities, and BMO Capital Markets all raised their price targets for the company, maintaining their positive ratings. This follows the successful Phase 3 SAPPHIRE study results for Scholar Rock's drug Apitegromab, a promising treatment for Spinal Muscular Atrophy (SMA), which led to significant improvements in patients' motor function.
Additionally, Scholar Rock is preparing to submit regulatory applications in Q1 2025, with a U.S. commercial launch of Apitegromab planned for Q4 2025. The company recently completed a $345 million follow-on offering, increasing its cash balance to approximately $463 million. Scholar Rock is also conducting the EMBRAZE Phase 2 study and developing SRK-439, both aimed at obesity management.
The company's recent advancements have led analysts to project peak sales of Apitegromab to reach over $1 billion. These developments indicate Scholar Rock's continued efforts to address unmet needs in the medical field. H.C. Wainwright, in particular, reaffirmed its positive stance on Scholar Rock, reflected in the increased price target and sustained Buy rating.
InvestingPro Insights
Scholar Rock Holding Corp (NASDAQ:SRRK) has experienced significant stock price momentum recently, which aligns with the insider transactions reported. According to InvestingPro data, the company's stock has shown remarkable performance, with a 300.42% price total return over the past three months and a 221.29% return over the past year.
This upward trend is reflected in the stock's current price, which stands at 85.43% of its 52-week high. The market seems to be valuing Scholar Rock's potential, despite the company's current financial challenges. InvestingPro data shows a negative P/E ratio of -15.35 for the last twelve months as of Q3 2023, indicating that the company is not yet profitable.
An InvestingPro Tip suggests that Scholar Rock's stock price is volatile, which is evident from the substantial price movements and high trading volumes. The average daily volume over the past three months has been 2.0 million shares, indicating strong investor interest and potentially high liquidity.
Another relevant InvestingPro Tip points out that analysts have recently revised their earnings expectations upwards for the company. This positive sentiment may be contributing to the stock's strong performance and could be a factor in the insider transactions we've observed.
It's worth noting that InvestingPro offers 12 additional tips for Scholar Rock, providing a more comprehensive analysis for investors looking to delve deeper into the company's prospects. These insights could be particularly valuable given the stock's recent volatility and the company's current financial position.
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