Scholar Rock (NASDAQ:SRRK) Trading Up 6.1% – What’s Next?

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) were up 6.1% during mid-day trading on Wednesday . The stock traded as high as $37.30 and last traded at $36.62. Approximately 106,510 shares traded hands during trading, a decline of 91% from the average daily volume of 1,158,666 shares. The stock had previously closed at $34.50.

Wall Street Analyst Weigh In

SRRK has been the topic of a number of research reports. HC Wainwright lifted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wedbush restated an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, Truist Financial increased their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Trading Down 3.5 %

The firm has a 50-day simple moving average of $39.87 and a 200-day simple moving average of $30.99. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.27 billion, a PE ratio of -14.70 and a beta of 0.59.

Insider Buying and Selling

In related news, CFO Edward H. Myles sold 142,292 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the sale, the chief financial officer now owns 111,345 shares of the company’s stock, valued at approximately $3,966,108.90. This represents a 56.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jing L. Marantz sold 5,655 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the completion of the transaction, the insider now directly owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 292,266 shares of company stock valued at $10,996,151. Corporate insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SRRK. Mackenzie Financial Corp purchased a new position in Scholar Rock during the fourth quarter worth about $212,000. GF Fund Management CO. LTD. bought a new stake in shares of Scholar Rock during the 4th quarter valued at about $85,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in shares of Scholar Rock during the fourth quarter worth about $16,680,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Scholar Rock by 42.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company’s stock worth $5,845,000 after purchasing an additional 40,436 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its stake in Scholar Rock by 317.4% in the fourth quarter. Voloridge Investment Management LLC now owns 201,576 shares of the company’s stock valued at $8,712,000 after purchasing an additional 153,280 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

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.