Scholar Rock (NASDAQ:SRRK) Sets New 1-Year High – Here’s What Happened

Scholar Rock Holding Corporation (NASDAQ:SRRK)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $56.54 and last traded at $54.96, with a volume of 2095146 shares changing hands. The stock had previously closed at $54.76.

Wall Street Analysts Forecast Growth

SRRK has been the subject of a number of analyst reports. HC Wainwright lifted their price objective on shares of Scholar Rock from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Piper Sandler raised their target price on shares of Scholar Rock from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a report on Tuesday, April 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. upped their price objective on Scholar Rock from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $56.00.

Scholar Rock Price Performance

The company’s 50-day moving average price is $48.15 and its two-hundred day moving average price is $46.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.64 and a quick ratio of 8.64. The company has a market capitalization of $6.33 billion, a P/E ratio of -14.72 and a beta of 0.67.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same quarter last year, the business posted ($0.67) EPS. As a group, sell-side analysts expect that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.

Insider Transactions at Scholar Rock

In related news, CEO David Hallal sold 30,615 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $49.57, for a total value of $1,517,585.55. Following the transaction, the chief executive officer directly owned 1,639,034 shares in the company, valued at approximately $81,246,915.38. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Keith Woods sold 10,220 shares of Scholar Rock stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $506,605.40. Following the completion of the sale, the chief operating officer owned 620,055 shares of the company’s stock, valued at $30,736,126.35. This trade represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 63,491 shares of company stock worth $3,147,249 over the last ninety days. Corporate insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

A number of large investors have recently added to or reduced their stakes in SRRK. IFP Advisors Inc lifted its holdings in shares of Scholar Rock by 294.1% during the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after acquiring an additional 450 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Scholar Rock during the fourth quarter valued at approximately $30,000. Summit Securities Group LLC bought a new stake in Scholar Rock during the fourth quarter worth $31,000. Ramirez Asset Management Inc. bought a new position in shares of Scholar Rock in the 3rd quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Scholar Rock by 151.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after purchasing an additional 525 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Company Profile

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).