Scholar Rock (NASDAQ:SRRK) Trading Up 4.6% Following Analyst Upgrade

Scholar Rock Holding Corporation (NASDAQ:SRRK)’s share price rose 4.6% during trading on Tuesday after Barclays raised their price target on the stock from $44.00 to $45.00. Barclays currently has an overweight rating on the stock. Scholar Rock traded as high as $38.31 and last traded at $38.1370. Approximately 163,491 shares traded hands during trading, a decline of 90% from the average daily volume of 1,629,198 shares. The stock had previously closed at $36.47.

A number of other research analysts have also recently commented on SRRK. Jefferies Financial Group assumed coverage on shares of Scholar Rock in a research report on Thursday, August 21st. They set a “buy” rating and a $50.00 price target on the stock. Leerink Partnrs raised shares of Scholar Rock to a “strong-buy” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Wednesday, October 8th. BMO Capital Markets reissued an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Friday. Finally, Leerink Partners assumed coverage on shares of Scholar Rock in a research report on Monday, September 15th. They set an “outperform” rating and a $51.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $48.45.

Insiders Place Their Bets

In other news, insider Mo Qatanani sold 3,353 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $30.67, for a total transaction of $102,836.51. Following the completion of the sale, the insider directly owned 108,964 shares in the company, valued at approximately $3,341,925.88. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Srinivas Akkaraju bought 113,025 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was acquired at an average cost of $38.65 per share, for a total transaction of $4,368,416.25. Following the completion of the purchase, the director directly owned 500,439 shares of the company’s stock, valued at $19,341,967.35. The trade was a 29.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 7,537 shares of company stock valued at $242,088 in the last quarter. Insiders own 13.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC increased its holdings in shares of Scholar Rock by 86.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company’s stock worth $28,207,000 after purchasing an additional 406,074 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Scholar Rock by 2.5% during the first quarter. Northern Trust Corp now owns 765,280 shares of the company’s stock valued at $24,604,000 after purchasing an additional 18,753 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. boosted its position in shares of Scholar Rock by 145.3% during the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 769,442 shares of the company’s stock valued at $27,254,000 after buying an additional 455,753 shares during the last quarter. Intech Investment Management LLC increased its holdings in Scholar Rock by 60.9% in the 1st quarter. Intech Investment Management LLC now owns 56,784 shares of the company’s stock worth $1,826,000 after buying an additional 21,483 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Scholar Rock in the 1st quarter worth about $458,000. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Up 4.5%

The company’s 50 day simple moving average is $32.55 and its 200-day simple moving average is $33.43. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.66 billion, a P/E ratio of -13.10 and a beta of 0.79.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter in the previous year, the firm earned ($0.66) EPS. Research analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

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.