Scholar Rock (NASDAQ:SRRK) Shares Gap Up to $15.45

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $15.45, but opened at $17.19. Scholar Rock shares last traded at $15.73, with a volume of 119,036 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SRRK. HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Scholar Rock in a report on Tuesday, March 19th. Piper Sandler reiterated an "overweight" rating and set a $28.00 price target on shares of Scholar Rock in a report on Tuesday. Raymond James began coverage on shares of Scholar Rock in a research note on Thursday. They issued a "strong-buy" rating and a $30.00 price objective on the stock. Wedbush reiterated an "outperform" rating and set a $23.00 target price on shares of Scholar Rock in a research note on Tuesday, January 23rd. Finally, Truist Financial reiterated a "buy" rating and issued a $20.00 target price on shares of Scholar Rock in a report on Monday. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Scholar Rock has an average rating of "Buy" and an average price target of $25.17.

Scholar Rock Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.80 and a current ratio of 8.80. The firm has a 50-day simple moving average of $15.55 and a two-hundred day simple moving average of $13.32. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -8.33 and a beta of 0.89.

Insider Activity at Scholar Rock

In other news, SVP Mo Qatanani sold 2,002 shares of the firm's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $15.93, for a total value of $31,891.86. Following the transaction, the senior vice president now directly owns 78,816 shares in the company, valued at approximately $1,255,538.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Junlin Ho sold 3,489 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $54,916.86. Following the sale, the general counsel now owns 208,771 shares in the company, valued at $3,286,055.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Mo Qatanani sold 2,002 shares of the firm's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total transaction of $31,891.86. Following the transaction, the senior vice president now directly owns 78,816 shares of the company's stock, valued at $1,255,538.88. The disclosure for this sale can be found here. Insiders sold 46,303 shares of company stock worth $769,490 in the last 90 days. 26.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Scholar Rock

A number of hedge funds have recently modified their holdings of SRRK. Point72 Hong Kong Ltd boosted its holdings in Scholar Rock by 1,388.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,171 shares of the company's stock worth $41,000 after acquiring an additional 2,958 shares during the period. Royal Bank of Canada increased its position in shares of Scholar Rock by 192.3% during the second quarter. Royal Bank of Canada now owns 3,493 shares of the company's stock valued at $26,000 after purchasing an additional 2,298 shares during the period. Amalgamated Bank boosted its stake in Scholar Rock by 52.8% in the third quarter. Amalgamated Bank now owns 4,217 shares of the company's stock worth $30,000 after purchasing an additional 1,458 shares in the last quarter. UBS Group AG increased its holdings in Scholar Rock by 279.0% in the first quarter. UBS Group AG now owns 4,328 shares of the company's stock valued at $35,000 after purchasing an additional 3,186 shares during the last quarter. Finally, Virtus ETF Advisers LLC acquired a new position in shares of Scholar Rock during the fourth quarter worth about $94,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.