Scholar Rock (NASDAQ:SRRK) Stock Price Up 6.8%

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price rose 6.8% on Thursday . The stock traded as high as $8.39 and last traded at $8.37. Approximately 763,200 shares changed hands during trading, a decline of 9% from the average daily volume of 838,781 shares. The stock had previously closed at $7.84.

Wall Street Analysts Forecast Growth

SRRK has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Scholar Rock in a research note on Tuesday. BMO Capital Markets lifted their target price on Scholar Rock from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Truist Financial reaffirmed a “buy” rating and set a $20.00 target price on shares of Scholar Rock in a research note on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a research note on Tuesday, May 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $28.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 26th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.00.

Scholar Rock Stock Performance

The company has a quick ratio of 6.58, a current ratio of 6.58 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $11.46 and a 200 day moving average price of $14.46.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same period last year, the business posted ($0.46) earnings per share. On average, research analysts forecast that Scholar Rock Holding Co. will post -2.4 EPS for the current year.

Insider Activity at Scholar Rock

In related news, General Counsel Junlin Ho sold 4,695 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $42,161.10. Following the transaction, the general counsel now directly owns 204,076 shares of the company’s stock, valued at $1,832,602.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Scholar Rock news, General Counsel Junlin Ho sold 4,695 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total value of $42,161.10. Following the transaction, the general counsel now directly owns 204,076 shares of the company’s stock, valued at approximately $1,832,602.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 9,458 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total value of $84,932.84. Following the completion of the transaction, the chief financial officer now directly owns 201,518 shares in the company, valued at $1,809,631.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,468 shares of company stock valued at $147,883. Company insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SRRK. Walleye Trading LLC bought a new stake in Scholar Rock during the 1st quarter valued at approximately $178,000. Jane Street Group LLC raised its holdings in shares of Scholar Rock by 95.5% in the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after buying an additional 119,363 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in Scholar Rock during the 1st quarter valued at $4,900,000. Bayesian Capital Management LP acquired a new stake in Scholar Rock during the 1st quarter valued at $258,000. Finally, Redmile Group LLC increased its stake in shares of Scholar Rock by 0.3% in the 1st quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock valued at $114,012,000 after buying an additional 17,105 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Company Profile

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.