Scholar Rock (NASDAQ:SRRK) Stock Price Up 2.9%

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

Wall Street Analyst Weigh In

SRRK has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a research report on Tuesday, March 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 target price on shares of Scholar Rock in a research report on Tuesday, March 26th. Truist Financial reaffirmed a “buy” rating and issued a $20.00 target price on shares of Scholar Rock in a research report on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a research report on Tuesday, January 23rd. Finally, Raymond James initiated coverage on Scholar Rock in a research report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and an average target price of $25.17.

Scholar Rock Stock Performance

The company has a current ratio of 8.80, a quick ratio of 8.80 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $15.59 and a two-hundred day moving average price of $14.16.

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

Insider Activity at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 4,744 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $74,670.56. Following the completion of the transaction, the chief financial officer now owns 210,976 shares in the company, valued at approximately $3,320,762.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Scholar Rock news, CFO Edward H. Myles sold 4,744 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $74,670.56. Following the completion of the transaction, the chief financial officer now owns 210,976 shares in the company, valued at approximately $3,320,762.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Junlin Ho sold 3,489 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $54,916.86. Following the transaction, the general counsel now owns 208,771 shares of the company’s stock, valued at approximately $3,286,055.54. The disclosure for this sale can be found here. Insiders have sold a total of 22,359 shares of company stock worth $351,931 in the last three months. 26.20% of the stock is owned by company insiders.

Institutional Trading of Scholar Rock

Institutional investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Scholar Rock by 62.3% in the third quarter. Barclays PLC now owns 32,318 shares of the company’s stock valued at $230,000 after buying an additional 12,409 shares during the period. Polar Capital Holdings Plc acquired a new stake in shares of Scholar Rock in the third quarter valued at $10,664,000. Alps Advisors Inc. lifted its holdings in shares of Scholar Rock by 4.1% in the third quarter. Alps Advisors Inc. now owns 41,535 shares of the company’s stock valued at $295,000 after buying an additional 1,628 shares during the period. FMR LLC lifted its holdings in shares of Scholar Rock by 3.8% in the third quarter. FMR LLC now owns 8,005,654 shares of the company’s stock valued at $56,840,000 after buying an additional 291,156 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Scholar Rock in the third quarter valued at $153,000. Institutional investors and hedge funds 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.