Scholar Rock (NASDAQ:SRRK) Stock Price Up 5.8% – Here’s Why

Scholar Rock Holding Corporation (NASDAQ:SRRK)’s share price shot up 5.8% during trading on Wednesday . The stock traded as high as $61.28 and last traded at $61.6150. 1,244,564 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 1,327,546 shares. The stock had previously closed at $58.25.

Analysts Set New Price Targets

SRRK has been the subject of several analyst reports. Wedbush restated an “outperform” rating and set a $64.00 price target on shares of Scholar Rock in a report on Friday, August 21st. HC Wainwright reissued a “buy” rating and set a $65.00 price objective on shares of Scholar Rock in a research report on Monday, August 10th. Barclays raised their price objective on shares of Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, Citigroup upped their target price on shares of Scholar Rock from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Four 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 company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $58.77.

Scholar Rock Trading Down 1.3%

The stock has a 50-day simple moving average of $52.86 and a two-hundred day simple moving average of $48.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02. The firm has a market cap of $7.22 billion, a PE ratio of -17.18 and a beta of 0.69.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.84). During the same quarter in the previous year, the company posted ($0.98) EPS. As a group, sell-side analysts anticipate that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.

Insider Buying and Selling

In other Scholar Rock news, Director Katie Peng sold 5,446 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total transaction of $293,430.48. Following the completion of the sale, the director directly owned 34,301 shares in the company, valued at approximately $1,848,137.88. The trade was a 13.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey S. Flier sold 3,053 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total value of $164,495.64. Following the transaction, the director directly owned 27,856 shares in the company, valued at $1,500,881.28. The trade was a 9.88% 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 have sold a total of 17,149 shares of company stock valued at $923,108 in the last ninety days. Corporate insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Scholar Rock by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock valued at $77,000 after purchasing an additional 242 shares during the last quarter. Values First Advisors Inc. increased its holdings in Scholar Rock by 1.5% during the first quarter. Values First Advisors Inc. now owns 18,850 shares of the company’s stock valued at $927,000 after buying an additional 286 shares during the last quarter. IFP Advisors Inc raised its position in Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after acquiring an additional 450 shares during the period. EverSource Wealth Advisors LLC raised its position in Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after acquiring an additional 525 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Scholar Rock by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 62,372 shares of the company’s stock worth $2,209,000 after acquiring an additional 577 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

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).