Scholar Rock (NASDAQ:SRRK) Shares Up 8.7% – What’s Next?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price shot up 8.7% during mid-day trading on Friday . The company traded as high as $38.60 and last traded at $39.08. 564,299 shares changed hands during trading, a decline of 35% from the average session volume of 872,711 shares. The stock had previously closed at $35.96.

Analyst Ratings Changes

A number of research firms recently issued reports on SRRK. HC Wainwright boosted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial upped their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Wedbush restated an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a report on Wednesday, January 29th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Stock Performance

The company’s fifty day moving average price is $41.22 and its 200 day moving average price is $29.50. The company has a market cap of $3.63 billion, a PE ratio of -16.52 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.

Insider Activity

In other news, insider Jing L. Marantz sold 5,655 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $249,951.00. Following the completion of the sale, the insider now owns 67,200 shares in the company, valued at $2,970,240. This represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the completion of the sale, the chief executive officer now owns 330,363 shares of the company’s stock, valued at approximately $14,602,044.60. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,974 shares of company stock worth $5,927,710 over the last quarter. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors have recently added to or reduced their stakes in SRRK. Mirae Asset Global Investments Co. Ltd. increased its holdings in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares during the last quarter. GAMMA Investing LLC increased its holdings in Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the last quarter. Quarry LP increased its holdings in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after buying an additional 4,373 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after buying an additional 766 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after buying an additional 1,031 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

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.