Scholar Rock (NASDAQ:SRRK) Trading Up 2.9%

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) rose 2.9% during trading on Tuesday . The company traded as high as $13.75 and last traded at $13.72. Approximately 49,355 shares traded hands 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

SRRK has been the subject of a number of research analyst reports. Raymond James assumed coverage on shares of Scholar Rock in a research report on Thursday, March 28th. They set a “strong-buy” rating and a $30.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a research report on Tuesday, March 19th. Wedbush reissued an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a research report on Tuesday, January 23rd. Truist Financial reissued a “buy” rating and issued a $20.00 target price on shares of Scholar Rock in a research report on Wednesday, April 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $28.00 target price on shares of Scholar Rock in a research note on Tuesday, March 26th. Five research 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, the stock presently has a consensus rating of “Buy” and an average target price of $25.17.

Scholar Rock Price Performance

The company has a fifty day moving average of $15.51 and a 200 day moving average of $14.20. The firm has a market capitalization of $1.07 billion, a P/E ratio of -6.88 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80.

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

Insiders Place Their Bets

In other Scholar Rock news, General Counsel Junlin Ho sold 3,489 shares of the 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 $54,916.86. Following the transaction, the general counsel now directly owns 208,771 shares in the company, valued at approximately $3,286,055.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Mo Qatanani sold 2,512 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value 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 approximately $2,314,079.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Junlin Ho sold 3,489 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $54,916.86. Following the completion of the sale, the general counsel now directly owns 208,771 shares of the company’s stock, valued at $3,286,055.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,359 shares of company stock worth $351,931. Corporate insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of Scholar Rock by 47.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,436,185 shares of the company’s stock valued at $46,315,000 after purchasing an additional 2,704,442 shares during the last quarter. FMR LLC increased its position in shares of Scholar Rock by 3.8% during the 3rd quarter. FMR LLC now owns 8,005,654 shares of the company’s stock valued at $56,840,000 after purchasing an additional 291,156 shares during the last quarter. Redmile Group LLC increased its position in shares of Scholar Rock by 7.5% during the 3rd quarter. Redmile Group LLC now owns 4,733,248 shares of the company’s stock valued at $33,606,000 after purchasing an additional 329,408 shares during the last quarter. Vanguard Group Inc. raised its stake in Scholar Rock by 39.1% in the 4th quarter. Vanguard Group Inc. now owns 2,854,984 shares of the company’s stock valued at $53,674,000 after acquiring an additional 802,266 shares during the period. Finally, BlackRock Inc. raised its stake in Scholar Rock by 115.5% in the 2nd quarter. BlackRock Inc. now owns 2,790,971 shares of the company’s stock valued at $21,044,000 after acquiring an additional 1,495,618 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.