Scholar Rock (NASDAQ:SRRK) Reaches New 52-Week High – Should You Buy?

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) hit a new 52-week high during trading on Wednesday . The company traded as high as $46.42 and last traded at $45.02, with a volume of 622341 shares traded. The stock had previously closed at $44.88.

Wall Street Analyst Weigh In

SRRK has been the topic of several analyst reports. Truist Financial upped their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a report on Thursday, January 9th. Piper Sandler upped their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. HC Wainwright increased their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, BMO Capital Markets boosted their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Trading Up 1.4 %

The company has a fifty day simple moving average of $39.94 and a 200-day simple moving average of $23.59. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -19.23 and a beta of 0.52. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insiders Place Their Bets

In other news, insider Jing L. Marantz sold 5,655 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $249,951.00. Following the transaction, the insider now owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. This represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the transaction, the insider now owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,974 shares of company stock worth $17,948,788 over the last three months. 19.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently modified their holdings of SRRK. KBC Group NV acquired a new stake in Scholar Rock in the fourth quarter valued at approximately $131,000. Nisa Investment Advisors LLC grew its stake 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 in the last quarter. Hamilton Lane Advisors LLC purchased a new stake in Scholar Rock in the fourth quarter worth approximately $1,274,000. GAMMA Investing LLC increased its position in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after acquiring an additional 269 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after buying an additional 379 shares in the last quarter. 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.