Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) shares passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $48.22 and traded as high as $51.76. Scholar Rock shares last traded at $51.55, with a volume of 2,795,181 shares traded.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Truist Financial upped their target price on Scholar Rock from $76.00 to $77.00 and gave the stock a "buy" rating in a research report on Thursday, September 24th. Evercore reiterated an "outperform" rating and set a $72.00 price target on shares of Scholar Rock in a report on Tuesday, September 15th. Barclays lowered shares of Scholar Rock from an "overweight" rating to a "cautious" rating in a research report on Tuesday, September 15th. Piper Sandler boosted their price objective on shares of Scholar Rock from $60.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 15th. Finally, Citigroup upped their price objective on shares of Scholar Rock from $60.00 to $74.00 and gave the stock a "buy" rating in a report on Monday, September 14th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Scholar Rock presently has an average rating of "Moderate Buy" and an average target price of $67.67.
Check Out Our Latest Report on Scholar Rock
Scholar Rock Price Performance
The stock's 50-day moving average is $47.01 and its 200-day moving average is $48.22. The firm has a market cap of $6.28 billion, a P/E ratio of -14.94 and a beta of 0.78. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 0.77.
Insiders Place Their Bets
In related news, Director Srinivas Akkaraju purchased 146,970 shares of the firm's stock in a transaction on Monday, October 26th. The shares were bought at an average cost of $41.59 per share, for a total transaction of $6,112,482.30. Following the transaction, the director directly owned 6,380,517 shares of the company's stock, valued at approximately $265,365,702.03. This trade represents a 2.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.30% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Scholar Rock
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Scholar Rock in the 2nd quarter worth approximately $522,175,000. Redmile Group LLC increased its position in shares of Scholar Rock by 73.7% during the first quarter. Redmile Group LLC now owns 9,066,621 shares of the company's stock valued at $445,715,000 after purchasing an additional 3,845,775 shares during the period. Jennison Associates LLC increased its position in shares of Scholar Rock by 19.5% during the first quarter. Jennison Associates LLC now owns 3,340,492 shares of the company's stock valued at $164,219,000 after purchasing an additional 545,304 shares during the period. Jupiter Topco LLC acquired a new position in shares of Scholar Rock in the second quarter valued at $123,279,000. Finally, Janus Henderson Group PLC raised its stake in shares of Scholar Rock by 26.1% in the first quarter. Janus Henderson Group PLC now owns 2,236,837 shares of the company's stock valued at $109,891,000 after purchasing an additional 462,669 shares in the last quarter. Institutional investors own 91.08% of the company's stock.
About Scholar Rock
(
Get Free Report)
Scholar Rock is a biopharmaceutical company based in Cambridge, Massachusetts, that develops medicines targeting growth factors and signaling proteins involved in disease. Its research has focused on the transforming growth factor beta (TGF-β) superfamily, which plays roles in processes including muscle development and immune regulation.
The company's lead program has been apitegromab, a selective inhibitor of myostatin developed for spinal muscular atrophy (SMA). Scholar Rock has studied the medicine as a potential treatment alongside existing SMA therapies, with the goal of improving patients' motor function.
Scholar Rock was founded in 2012.
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