Scholar Rock (NASDAQ:SRRK) Shares Up 6.1% – What’s Next?

Scholar Rock Holding Co. (NASDAQ:SRRK) traded up 6.1% on Wednesday . The stock traded as high as $37.30 and last traded at $36.62. 106,510 shares traded hands during trading, a decline of 91% from the average session volume of 1,158,666 shares. The stock had previously closed at $34.50.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SRRK. HC Wainwright increased their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wedbush reissued an “outperform” rating and issued a $47.00 price objective on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, Truist Financial boosted their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Trading Down 3.5 %

The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $39.87 and a 200 day moving average price of $30.99. The stock has a market capitalization of $3.27 billion, a PE ratio of -14.70 and a beta of 0.59.

Insider Buying and Selling

In related news, insider Jing L. Marantz sold 5,655 shares of the business’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 $249,951.00. Following the transaction, the insider now directly owns 67,200 shares in the company, valued at approximately $2,970,240. The trade was 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, CFO Edward H. Myles sold 12,539 shares of the 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 completion of the sale, the chief financial officer now owns 148,549 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 292,266 shares of company stock worth $10,996,151. 19.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Scholar Rock by 51.8% during 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 last quarter. Quarry LP increased its position in shares of Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after purchasing 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 purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Scholar Rock in the 4th quarter worth about $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.