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

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $31.15, but opened at $33.50. Scholar Rock shares last traded at $36.34, with a volume of 1,823,180 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Wedbush reiterated an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a report on Wednesday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $42.67.

Scholar Rock Stock Performance

The stock has a market capitalization of $3.45 billion, a PE ratio of -14.36 and a beta of 0.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.25 and a current ratio of 10.25. The firm has a 50 day moving average of $31.32 and a 200-day moving average of $36.09.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same period in the prior year, the firm posted ($0.59) EPS. Research analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael Gilman sold 3,375 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $100,305.00. Following the transaction, the director now owns 55,216 shares in the company, valued at $1,641,019.52. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Akshay Vaishnaw sold 6,750 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $200,610.00. Following the transaction, the insider now owns 616,205 shares in the company, valued at approximately $18,313,612.60. This trade represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,500 shares of company stock worth $1,181,671. Corporate insiders own 13.30% of the company's stock.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRRK. Rhumbline Advisers boosted its holdings in shares of Scholar Rock by 6.6% during the 1st quarter. Rhumbline Advisers now owns 120,752 shares of the company's stock worth $3,882,000 after buying an additional 7,491 shares during the period. Strs Ohio acquired a new position in Scholar Rock during the 1st quarter worth $77,000. Intech Investment Management LLC boosted its holdings in Scholar Rock by 60.9% during the first quarter. Intech Investment Management LLC now owns 56,784 shares of the company's stock valued at $1,826,000 after acquiring an additional 21,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Scholar Rock by 25.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company's stock valued at $5,460,000 after acquiring an additional 34,594 shares during the period. Finally, Exome Asset Management LLC grew its position in shares of Scholar Rock by 8.9% in the first quarter. Exome Asset Management LLC now owns 84,339 shares of the company's stock valued at $2,711,000 after purchasing an additional 6,900 shares during the last quarter. 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.