Scholar Rock (NASDAQ:SRRK) Shares Gap Up – Time to Buy?

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) gapped up prior to trading on Friday . The stock had previously closed at $30.07, but opened at $34.98. Scholar Rock shares last traded at $37.4120, with a volume of 2,965,767 shares.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lowered their price target on shares of Scholar Rock from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Truist Financial dropped their price target on shares of Scholar Rock from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Cantor Fitzgerald initiated coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They set an “overweight” rating for the company. Leerink Partnrs upgraded Scholar Rock to a “strong-buy” rating in a research note on Monday, September 15th. Finally, Raymond James Financial set a $53.00 target price on Scholar Rock and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $48.50.

Scholar Rock Trading Up 25.8%

The business has a 50 day simple moving average of $32.33 and a 200 day simple moving average of $33.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -13.07 and a beta of 0.79.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). During the same quarter last year, the company earned ($0.66) earnings per share. As a group, equities analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Insider Transactions at Scholar Rock

In related news, Director Srinivas Akkaraju purchased 387,414 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were acquired at an average cost of $37.27 per share, with a total value of $14,438,919.78. Following the completion of the purchase, the director directly owned 387,414 shares of the company’s stock, valued at $14,438,919.78. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $32.53, for a total transaction of $32,725.18. Following the completion of the sale, the director directly owned 33,914 shares of the company’s stock, valued at approximately $1,103,222.42. This represents a 2.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 7,537 shares of company stock worth $242,088. Corporate 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 company. Principal Financial Group Inc. boosted its holdings in Scholar Rock by 7.9% in the third quarter. Principal Financial Group Inc. now owns 6,214 shares of the company’s stock valued at $231,000 after acquiring an additional 456 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Scholar Rock by 15.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,668 shares of the company’s stock valued at $130,000 after purchasing an additional 500 shares during the period. California State Teachers Retirement System boosted its stake in shares of Scholar Rock by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 62,372 shares of the company’s stock valued at $2,209,000 after purchasing an additional 577 shares during the last quarter. CWM LLC grew its position in shares of Scholar Rock by 152.8% during the 1st quarter. CWM LLC now owns 996 shares of the company’s stock worth $32,000 after buying an additional 602 shares during the period. Finally, E Fund Management Co. Ltd. grew its position in shares of Scholar Rock by 6.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 11,146 shares of the company’s stock worth $395,000 after buying an additional 710 shares during the period. Institutional investors and hedge funds 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.