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

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

Wall Street Analyst Weigh In

Separately, Wedbush reissued an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Scholar Rock presently has a consensus rating of “Buy” and a consensus price target of $42.67.

Scholar Rock Stock Up 5.5 %

The company has a market cap of $2.89 billion, a PE ratio of -12.98 and a beta of 0.56. The company has a fifty day moving average of $33.95 and a two-hundred day moving average of $34.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Insider Transactions at Scholar Rock

In other news, CFO Edward H. Myles sold 12,539 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the transaction, the chief financial officer now directly owns 148,549 shares in the company, valued at approximately $6,565,865.80. This represents a 7.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tracey Sacco sold 6,500 shares of Scholar Rock stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $33.08, for a total transaction of $215,020.00. Following the sale, the insider now owns 71,750 shares of the company’s stock, valued at $2,373,490. The trade was a 8.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 299,772 shares of company stock worth $11,245,798. 19.20% of the stock is currently owned by insiders.

Institutional Trading of Scholar Rock

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company’s stock worth $589,316,000 after purchasing an additional 3,439,215 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Scholar Rock by 7.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company’s stock valued at $401,231,000 after acquiring an additional 629,315 shares in the last quarter. Vanguard Group Inc. lifted its stake in Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock worth $205,013,000 after acquiring an additional 708,817 shares during the period. Marshall Wace LLP increased its position in Scholar Rock by 1,283.7% during the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock valued at $127,301,000 after purchasing an additional 2,732,546 shares during the period. Finally, Bellevue Group AG raised its holdings in shares of Scholar Rock by 16.2% in the 4th quarter. Bellevue Group AG now owns 2,510,690 shares of the company’s stock valued at $108,512,000 after purchasing an additional 349,487 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.