Scholar Rock (NASDAQ:SRRK) Trading Up 6.6% – Here’s What Happened

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) rose 6.6% during trading on Wednesday . The stock traded as high as $32.15 and last traded at $32.04. Approximately 1,009,307 shares were traded during trading, a decline of 14% from the average daily volume of 1,177,885 shares. The stock had previously closed at $30.06.

Analyst Ratings Changes

Separately, Wedbush reiterated an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a research report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $42.67.

Scholar Rock Stock Up 6.6 %

The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The company has a 50-day simple moving average of $37.22 and a 200-day simple moving average of $33.55. The firm has a market cap of $3.03 billion, a PE ratio of -13.63 and a beta of 0.59.

Insider Activity at Scholar Rock

In related news, insider Tracey Sacco sold 6,500 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the sale, the insider now directly owns 71,750 shares of the company’s stock, valued at $2,373,490. This represents a 8.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward H. Myles sold 12,539 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $554,223.80. Following the transaction, the chief financial officer now directly owns 148,549 shares in the company, valued at $6,565,865.80. This trade represents a 7.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 299,772 shares of company stock worth $11,245,798. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares in the last quarter. Quarry LP grew its position in shares of Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after buying an additional 4,373 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 766 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after acquiring an additional 1,031 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Scholar Rock during the 4th quarter worth $85,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.