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

Scholar Rock Holding Corporation (NASDAQ:SRRK) shares traded up 5.8% during trading on Wednesday . The company traded as high as $61.28 and last traded at $61.6150. Approximately 1,244,564 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 1,327,546 shares. The stock had previously closed at $58.25.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SRRK shares. Citigroup boosted their target price on Scholar Rock from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $65.00 price target on shares of Scholar Rock in a research note on Monday, August 10th. BMO Capital Markets reissued an “outperform” rating and set a $76.00 price objective on shares of Scholar Rock in a research report on Friday, August 7th. Barclays raised their price objective on shares of Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $58.77.

Scholar Rock Price Performance

The firm has a 50-day moving average of $52.36 and a 200 day moving average of $48.64. The company has a market capitalization of $7.42 billion, a PE ratio of -17.67 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.84). During the same quarter in the prior year, the firm posted ($0.98) EPS. As a group, research analysts anticipate that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In other news, Director Jeffrey S. Flier sold 3,053 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $164,495.64. Following the transaction, the director directly owned 27,856 shares of the company’s stock, valued at $1,500,881.28. This represents a 9.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joshua Reed sold 3,053 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total value of $164,068.22. Following the completion of the transaction, the director owned 19,518 shares in the company, valued at approximately $1,048,897.32. This trade represents a 13.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 17,149 shares of company stock worth $923,108. 10.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently made changes to their positions in SRRK. GAMMA Investing LLC boosted its holdings in shares of Scholar Rock by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock valued at $77,000 after purchasing an additional 242 shares during the last quarter. Values First Advisors Inc. lifted its position in shares of Scholar Rock by 1.5% in the first quarter. Values First Advisors Inc. now owns 18,850 shares of the company’s stock worth $927,000 after buying an additional 286 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after buying an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Scholar Rock by 151.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after buying an additional 525 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Scholar Rock by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 62,372 shares of the company’s stock valued at $2,209,000 after buying an additional 577 shares in the last quarter. Hedge funds and other institutional investors 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).