Scholar Rock (NASDAQ:SRRK) Sets New 52-Week High – Time to Buy?

Scholar Rock Holding Corporation (NASDAQ:SRRK)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $56.59 and last traded at $56.3050, with a volume of 263966 shares traded. The stock had previously closed at $55.36.

Wall Street Analyst Weigh In

Several brokerages recently commented on SRRK. Cantor Fitzgerald restated an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. HC Wainwright raised their target price on Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Canaccord Genuity Group began coverage on Scholar Rock in a report on Monday, April 20th. They set a “buy” rating and a $62.00 price target on the stock. Barclays upped their price target on Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Wedbush raised their price objective on Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $56.00.

Scholar Rock Stock Up 3.7%

The business’s 50 day simple moving average is $48.59 and its 200-day simple moving average is $46.67. The company has a debt-to-equity ratio of 0.71, a quick ratio of 8.64 and a current ratio of 8.64. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -16.05 and a beta of 0.67.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same period in the prior year, the firm earned ($0.67) earnings per share. Sell-side analysts expect that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joshua Reed sold 3,053 shares of Scholar Rock stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total value of $164,068.22. Following the transaction, the director owned 19,518 shares in the company, valued at $1,048,897.32. This trade represents a 13.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kristina Burow sold 3,053 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the sale, the director owned 114,657 shares of the company’s stock, valued at $6,161,667.18. This trade represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 80,640 shares of company stock valued at $4,070,357 in the last three months. Company insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Large investors have recently made changes to their positions in the business. IFP Advisors Inc increased its position in Scholar Rock by 294.1% in the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after buying an additional 450 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Scholar Rock during the fourth quarter worth $30,000. Summit Securities Group LLC bought a new position in Scholar Rock during the fourth quarter worth $31,000. EverSource Wealth Advisors LLC raised its stake in Scholar Rock by 151.3% during 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. Finally, Hilton Head Capital Partners LLC bought a new stake in Scholar Rock in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Scholar Rock

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).