Scholar Rock (NASDAQ:SRRK) Hits New 52-Week High – Still a Buy?

Scholar Rock Holding Corporation (NASDAQ:SRRK)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $56.59 and last traded at $56.3050, with a volume of 263966 shares changing hands. The stock had previously closed at $55.36.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays lifted their price target on Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a research report on Tuesday, April 21st. HC Wainwright raised their price objective on shares of Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wedbush boosted their target price on shares of Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Scholar Rock from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and an average price target of $56.00.

Scholar Rock Trading Down 0.9%

The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of -15.61 and a beta of 0.67. The business has a 50-day moving average of $48.99 and a two-hundred day moving average of $46.85. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.71.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same quarter in the previous year, the company posted ($0.67) earnings per share. Research analysts predict that Scholar Rock Holding Corporation will post -3.23 EPS for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In related news, Director Joshua Reed sold 3,053 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total value of $164,068.22. Following the completion of the transaction, the director directly owned 19,518 shares of the company’s stock, valued at $1,048,897.32. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey S. Flier sold 3,053 shares of Scholar Rock stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $164,495.64. Following the sale, the director owned 27,856 shares in the company, valued at $1,500,881.28. This represents a 9.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 80,640 shares of company stock valued at $4,070,357 in the last quarter. 13.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently made changes to their positions in the business. Three Seasons Wealth LLC lifted its holdings in shares of Scholar Rock by 2.1% during the 4th quarter. Three Seasons Wealth LLC now owns 10,968 shares of the company’s stock worth $483,000 after acquiring an additional 222 shares during the period. GAMMA Investing LLC increased its stake in Scholar Rock by 20.8% in the second quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock valued at $77,000 after acquiring an additional 242 shares during the period. Values First Advisors Inc. increased its stake in Scholar Rock by 1.5% in the first quarter. Values First Advisors Inc. now owns 18,850 shares of the company’s stock valued at $927,000 after acquiring an additional 286 shares during the period. IFP Advisors Inc raised its position in Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after purchasing an additional 450 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after purchasing an additional 525 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Company Profile

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).