Scholar Rock (NASDAQ:SRRK) Hits New 52-Week High – Still a Buy?

Scholar Rock Holding Corporation (NASDAQ:SRRK)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $58.63 and last traded at $58.6710, with a volume of 613225 shares. The stock had previously closed at $56.50.

Analyst Upgrades and Downgrades

SRRK has been the topic of a number of recent research reports. Citigroup lifted their price objective on Scholar Rock from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised their target price on Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. HC Wainwright reiterated a “buy” rating and set a $65.00 price objective on shares of Scholar Rock in a research note on Monday, August 10th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $76.00 target price on shares of Scholar Rock in a research note on Friday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $58.77.

Scholar Rock Stock Up 0.1%

The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of -16.88 and a beta of 0.69. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average price of $52.36 and a 200 day moving average price of $48.64.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.84). During the same period last year, the firm earned ($0.98) EPS. Sell-side analysts anticipate that Scholar Rock Holding Corporation will post -3.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Scholar Rock news, Director Joshua Reed sold 3,053 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total value of $164,068.22. Following the completion of the transaction, the director directly owned 19,518 shares of the company’s stock, valued at approximately $1,048,897.32. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Gilman sold 2,544 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.87, for a total transaction of $137,045.28. Following the transaction, the director owned 59,511 shares in the company, valued at $3,205,857.57. The trade was a 4.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 17,149 shares of company stock valued at $923,108 over the last three months. Company insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SRRK. AQR Capital Management LLC increased its stake in Scholar Rock by 609.3% during the 1st quarter. AQR Capital Management LLC now owns 57,294 shares of the company’s stock worth $1,842,000 after purchasing an additional 49,217 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Scholar Rock by 12.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,046 shares of the company’s stock valued at $1,709,000 after acquiring an additional 5,831 shares in the last quarter. Millennium Management LLC boosted its stake in Scholar Rock by 37.4% in the 1st quarter. Millennium Management LLC now owns 200,255 shares of the company’s stock worth $6,438,000 after purchasing an additional 54,555 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Scholar Rock by 25.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company’s stock worth $5,460,000 after purchasing an additional 34,594 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Scholar Rock in the 1st quarter valued at about $77,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Company Profile

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).