Scholar Rock (NASDAQ:SRRK) Shares Up 5.9% – Still a Buy?

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) rose 5.9% during mid-day trading on Thursday . The stock traded as high as $32.59 and last traded at $32.64. Approximately 388,290 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,266,727 shares. The stock had previously closed at $30.82.

Analyst Upgrades and Downgrades

SRRK has been the subject of several recent analyst reports. Lifesci Capital raised Scholar Rock to a “strong-buy” rating in a report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a research note on Wednesday, May 14th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and a consensus price target of $42.67.

Scholar Rock Trading Down 0.1%

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 of $30.37 and a 200 day moving average of $36.15. The firm has a market cap of $3.25 billion, a PE ratio of -14.57 and a beta of 0.37.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same quarter last year, the firm posted ($0.59) earnings per share. Equities analysts anticipate that Scholar Rock Holding Co. will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other Scholar Rock news, insider Akshay Vaishnaw sold 6,750 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total transaction of $200,610.00. Following the sale, the insider now owns 616,205 shares in the company, valued at $18,313,612.60. This represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Edward H. Myles sold 142,292 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the sale, the chief financial officer now owns 111,345 shares in the company, valued at approximately $3,966,108.90. This represents a 56.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,798 shares of company stock worth $6,284,738 over the last 90 days. Corporate insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. raised its position in shares of Scholar Rock by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock worth $77,000 after buying an additional 430 shares in the last quarter. CWM LLC raised its position in shares of Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company’s stock worth $32,000 after buying an additional 602 shares in the last quarter. Amalgamated Bank raised its position in shares of Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after buying an additional 620 shares in the last quarter. Global Retirement Partners LLC raised its position 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 worth $39,000 after buying an additional 766 shares in the last quarter. Finally, Corebridge Financial Inc. raised its position in shares of Scholar Rock by 2.2% in the first quarter. Corebridge Financial Inc. now owns 39,389 shares of the company’s stock worth $1,266,000 after buying an additional 850 shares in the last quarter. Hedge funds and other institutional investors 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.