Scholar Rock (NASDAQ:SRRK) Shares Climb 2.8% – Here’s What Happened

Scholar Rock Holding Corporation (NASDAQ:SRRK) shares shot up 2.8% during trading on Wednesday. The stock traded as high as $43.35 and last traded at $43.6550. Approximately 77,815 shares were traded during trading, a decline of 95% from the average session volume of 1,422,076 shares. The stock had previously closed at $42.45.

Analyst Ratings Changes

SRRK has been the topic of a number of research analyst reports. Barclays downgraded Scholar Rock from an “overweight” rating to a “cautious” rating in a report on Tuesday, September 15th. Wedbush reiterated an “outperform” rating and issued a $64.00 target price on shares of Scholar Rock in a research report on Tuesday, September 15th. BMO Capital Markets increased their price objective on shares of Scholar Rock from $76.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. JPMorgan Chase & Co. boosted their price objective on Scholar Rock from $63.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, September 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.75.

Scholar Rock Stock Performance

The firm has a market capitalization of $5.31 billion, a P/E ratio of -12.64 and a beta of 0.61. The stock has a fifty day simple moving average of $52.01 and a two-hundred day simple moving average of $50.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, hitting the consensus estimate of ($0.84). During the same quarter last year, the company posted ($0.98) EPS. On average, research analysts predict that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.

Institutional Trading of Scholar Rock

Several large investors have recently made changes to their positions in SRRK. Engineers Gate Manager LP grew its stake in Scholar Rock by 211.3% in the second quarter. Engineers Gate Manager LP now owns 23,933 shares of the company’s stock valued at $1,316,000 after acquiring an additional 16,245 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Scholar Rock during the 2nd quarter worth $99,000. Squarepoint Ops LLC grew its stake in shares of Scholar Rock by 484.5% in the 2nd quarter. Squarepoint Ops LLC now owns 291,996 shares of the company’s stock worth $16,060,000 after acquiring an additional 242,041 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Scholar Rock by 20.1% in the second quarter. Arizona State Retirement System now owns 20,605 shares of the company’s stock valued at $1,133,000 after purchasing an additional 3,442 shares during the last quarter. Finally, Nykredit A S purchased a new position in Scholar Rock during the second quarter worth about $215,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

About Scholar Rock

Scholar Rock Holding Corporation (NASDAQ: SRRK) is a clinical-stage biopharmaceutical company focused on developing medicines that selectively target the activation of growth factors. The company’s approach is designed to modulate biologic pathways in specific tissues while potentially limiting effects elsewhere in the body.

Scholar Rock’s lead product candidate is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin, a protein that negatively regulates muscle growth.