Scholar Rock (NASDAQ:SRRK) Sets New 1-Year High – Here’s Why

Scholar Rock Holding Corporation (NASDAQ:SRRK)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $52.19 and last traded at $51.48, with a volume of 1049852 shares. The stock had previously closed at $48.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SRRK shares. Truist Financial lifted their price objective on Scholar Rock from $44.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. HC Wainwright lifted their target price on Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Citigroup lifted their target price on Scholar Rock from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a research report on Tuesday, April 21st. Finally, Barclays lifted their target price on Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Five investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and an average target price of $56.00.

Scholar Rock Trading Up 7.0%

The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of -14.35 and a beta of 0.70. The business has a 50-day moving average of $47.10 and a two-hundred day moving average of $44.66. 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 released its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same quarter in the prior year, the business earned ($0.67) earnings per share. Research analysts predict that Scholar Rock Holding Corporation will post -3.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Scholar Rock news, CFO Vikas Sinha sold 10,410 shares of Scholar Rock stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $516,023.70. Following the sale, the chief financial officer directly owned 619,856 shares of the company’s stock, valued at approximately $30,726,261.92. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Akshay Vaishnaw sold 12,246 shares of Scholar Rock stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total value of $607,034.22. Following the sale, the insider directly owned 630,542 shares in the company, valued at $31,255,966.94. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 63,491 shares of company stock valued at $3,147,249 over the last ninety days. Company insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors have recently added to or reduced their stakes in SRRK. Redmile Group LLC boosted its holdings in Scholar Rock by 73.7% during the first quarter. Redmile Group LLC now owns 9,066,621 shares of the company’s stock valued at $445,715,000 after purchasing an additional 3,845,775 shares in the last quarter. Orbis Allan Gray Ltd boosted its holdings in Scholar Rock by 1,034.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,428,929 shares of the company’s stock valued at $151,044,000 after purchasing an additional 3,126,677 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Scholar Rock by 124.5% during the third quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock valued at $169,289,000 after purchasing an additional 2,521,022 shares in the last quarter. Holocene Advisors LP acquired a new stake in Scholar Rock during the third quarter valued at approximately $91,670,000. Finally, Norges Bank acquired a new position in shares of Scholar Rock in the 4th quarter worth approximately $91,603,000. 91.08% of the stock is owned by institutional investors and hedge funds.

About Scholar Rock

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).