Futures lower, ISM manufacturing PMI, gold’s record high - what’s moving markets
This stock sale was executed to cover tax obligations associated with the vesting of restricted stock units (RSUs) that occurred on February 15, 2025. As per the company’s equity incentive plans, this sale was a mandatory "sell to cover" transaction, and not a discretionary trade by Myles Edward H. Following this transaction, he retains ownership of 140,740 shares, comprising 29,395 shares of common stock and 111,345 RSUs. With the company’s next earnings report scheduled for February 27, InvestingPro subscribers can access comprehensive insider trading analysis and 12 additional ProTips to make informed investment decisions. With the company’s next earnings report scheduled for February 27, InvestingPro subscribers can access comprehensive insider trading analysis and 12 additional ProTips to make informed investment decisions.
This stock sale was executed to cover tax obligations associated with the vesting of restricted stock units (RSUs) that occurred on February 15, 2025. As per the company’s equity incentive plans, this sale was a mandatory "sell to cover" transaction, and not a discretionary trade by Myles Edward H. Following this transaction, he retains ownership of 140,740 shares, comprising 29,395 shares of common stock and 111,345 RSUs.
In other recent news, Scholar Rock has submitted a Biologics License Application to the FDA for its SMA treatment, apitegromab, following positive results from the Phase 3 SAPPHIRE trial. The FDA has previously granted the therapy Fast Track, Orphan Drug, and Rare Pediatric Disease designations. Scholar Rock anticipates a U.S. launch of apitegromab in the fourth quarter of 2025, with plans to expand its application to other neuromuscular disorders. Analysts at H.C. Wainwright and Truist Securities have both increased their price targets for Scholar Rock, citing the positive trial results and reduced competition in the SMA market. H.C. Wainwright raised its price target to $50.00, while Truist Securities adjusted theirs to $45.00, both maintaining a Buy rating. The analysts noted that the recent failure of a competitor’s SMA drug trial has strengthened Scholar Rock’s market position, with anticipated peak sales of apitegromab now estimated at $1.5 billion. Additionally, Scholar Rock is advancing its cardiometabolic program, with a Phase 2 trial for obesity underway and data expected in the second quarter of 2025. These developments underscore the company’s strategic focus on expanding its therapeutic offerings and market presence.
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