Scholar Rock (NASDAQ:SRRK) Trading Up 2.9%

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price was up 2.9% on Tuesday . The company traded as high as $13.75 and last traded at $13.72. Approximately 49,355 shares were traded during trading, a decline of 94% from the average daily volume of 776,547 shares. The stock had previously closed at $13.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SRRK shares. Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 26th. Truist Financial reissued a “buy” rating and set a $20.00 target price on shares of Scholar Rock in a research note on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a research note on Tuesday, January 23rd. Raymond James initiated coverage on shares of Scholar Rock in a research note on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, March 19th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $25.17.

Scholar Rock Price Performance

The stock’s fifty day moving average price is $15.51 and its 200-day moving average price is $14.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -6.88 and a beta of 0.90.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). Equities research analysts predict that Scholar Rock Holding Co. will post -2.01 EPS for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 2,512 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $39,538.88. Following the transaction, the insider now owns 147,019 shares in the company, valued at approximately $2,314,079.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Scholar Rock news, CEO Jay T. Backstrom sold 11,614 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $182,804.36. Following the completion of the sale, the chief executive officer now directly owns 352,671 shares of the company’s stock, valued at $5,551,041.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mo Qatanani sold 2,512 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $39,538.88. Following the completion of the sale, the insider now directly owns 147,019 shares of the company’s stock, valued at $2,314,079.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,359 shares of company stock worth $351,931. 26.20% of the stock is currently owned by company insiders.

Institutional Trading of Scholar Rock

Several large investors have recently modified their holdings of SRRK. Point72 Hong Kong Ltd boosted its holdings in Scholar Rock by 1,388.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,171 shares of the company’s stock valued at $41,000 after purchasing an additional 2,958 shares during the period. Royal Bank of Canada boosted its holdings in Scholar Rock by 192.3% in the 2nd quarter. Royal Bank of Canada now owns 3,493 shares of the company’s stock valued at $26,000 after purchasing an additional 2,298 shares during the period. Amalgamated Bank boosted its holdings in Scholar Rock by 52.8% in the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock valued at $30,000 after purchasing an additional 1,458 shares during the period. UBS Group AG boosted its holdings in Scholar Rock by 279.0% in the 1st quarter. UBS Group AG now owns 4,328 shares of the company’s stock valued at $35,000 after purchasing an additional 3,186 shares during the period. Finally, Virtus ETF Advisers LLC acquired a new position in shares of Scholar Rock in the 4th quarter valued at $94,000. 91.08% of the stock is owned by institutional investors.

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.