Scholar Rock (NASDAQ:SRRK) Shares Gap Up - Should You Buy?

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report)'s share price 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.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SRRK shares. Wedbush reissued an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a research report on Wednesday. Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of "Buy" and an average price target of $42.67.

Scholar Rock Stock Down 6.3%

The business's 50 day moving average is $31.65 and its 200 day moving average is $36.04. 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 stock has a market cap of $3.23 billion, a price-to-earnings ratio of -13.45 and a beta of 0.28.

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

Insiders Place Their Bets

In related news, insider Akshay Vaishnaw sold 6,750 shares of Scholar Rock stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $200,610.00. Following the completion of the sale, the insider now owns 616,205 shares of the company's stock, valued at approximately $18,313,612.60. The trade was a 1.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey S. Flier sold 6,075 shares of Scholar Rock stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.73, for a total transaction of $180,609.75. Following the completion of the sale, the director now directly owns 24,070 shares of the company's stock, valued at approximately $715,601.10. The trade was a 20.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,500 shares of company stock worth $1,181,671 in the last quarter. 13.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC boosted 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 valued at $32,000 after acquiring an additional 602 shares in the last quarter. Global Retirement Partners LLC boosted its position in Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock valued at $39,000 after buying an additional 766 shares in the last quarter. Federated Hermes Inc. acquired a new position in Scholar Rock in the first quarter valued at about $71,000. GF Fund Management CO. LTD. boosted its position in Scholar Rock by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after buying an additional 430 shares in the last quarter. Finally, Strs Ohio acquired a new position in Scholar Rock in the first quarter valued at about $77,000. Institutional investors own 91.08% of the company's stock.

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.