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

Scholar Rock Holding Co. (NASDAQ:SRRK) shot up 5.8% during trading on Tuesday . The stock traded as high as $31.06 and last traded at $30.61. 107,710 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,217,614 shares. The stock had previously closed at $28.93.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research note on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and an average target price of $42.67.

Scholar Rock Price Performance

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 stock has a 50 day simple moving average of $33.54 and a two-hundred day simple moving average of $34.76. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -12.66 and a beta of 0.56.

Insider Activity at Scholar Rock

In related news, insider Tracey Sacco sold 6,500 shares of Scholar Rock stock in a transaction that occurred on 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 owns 71,750 shares in the company, valued at approximately $2,373,490. This trade represents a 8.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Katie Peng sold 1,006 shares of Scholar Rock stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the completion of the sale, the director now directly owns 30,319 shares of the company’s stock, valued at $1,043,579.98. The trade was a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,231 shares of company stock valued at $9,056,086. 19.20% of the stock is owned by company insiders.

Institutional Trading of Scholar Rock

Several hedge funds have recently made changes to their positions in SRRK. GAMMA Investing LLC lifted its holdings in Scholar Rock by 51.8% during the 4th 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. Global Retirement Partners LLC raised its stake in shares of Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after acquiring an additional 766 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares during the period. GF Fund Management CO. LTD. acquired a new position in Scholar Rock during the 4th quarter worth $85,000. Finally, Amalgamated Bank increased its holdings in Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Scholar Rock

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.