Scholar Rock (NASDAQ:SRRK) Hits New 52-Week High – Here’s Why

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

Wall Street Analyst Weigh In

Several research firms recently commented on SRRK. Barclays increased their target price on Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Truist Financial increased their target price on Scholar Rock from $44.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Raymond James Financial reissued a “strong-buy” rating on shares of Scholar Rock in a report on Tuesday, March 3rd. Piper Sandler increased their price target on shares of Scholar Rock from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Finally, BMO Capital Markets increased their price target on shares of Scholar Rock from $50.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Five equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $56.00.

Scholar Rock Stock Down 1.6%

The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $47.72 and its 200 day moving average price is $45.12. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -13.88 and a beta of 0.70.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same period in the previous year, the firm earned ($0.67) earnings per share. On average, equities analysts expect that Scholar Rock Holding Corporation will post -3.18 EPS for the current year.

Insiders Place Their Bets

In other Scholar Rock news, CEO David Hallal sold 30,615 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 value of $1,517,585.55. Following the sale, the chief executive officer owned 1,639,034 shares of the company’s stock, valued at approximately $81,246,915.38. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was 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. This trade represents a 1.91% decrease in their position. 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 worth $3,147,249 over the last quarter. 13.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. IFP Advisors Inc raised its holdings in Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock valued at $27,000 after buying an additional 450 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Scholar Rock in the fourth quarter valued at approximately $30,000. Summit Securities Group LLC purchased a new position in Scholar Rock in the fourth quarter valued at about $31,000. Ramirez Asset Management Inc. purchased a new position in Scholar Rock in the third quarter valued at about $37,000. Finally, 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 valued at $38,000 after purchasing an additional 525 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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).