Scholar Rock (NASDAQ:SRRK) Stock Price Up 5.2% - Here's Why

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) shares rose 5.2% on Wednesday . The company traded as high as $34.75 and last traded at $35.14. Approximately 393,843 shares changed hands during trading, a decline of 70% from the average daily volume of 1,293,324 shares. The stock had previously closed at $33.41.

Analyst Ratings Changes

Several equities analysts have recently commented on SRRK shares. Lifesci Capital upgraded shares of Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Wedbush restated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $42.67.

Scholar Rock Stock Up 7.2%

The business's fifty day moving average is $31.92 and its two-hundred day moving average is $35.88. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -14.15 and a beta of 0.28. The company has a quick ratio of 10.25, a current ratio of 10.25 and a debt-to-equity ratio of 0.16.

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

Insider Activity at Scholar Rock

In related news, Director Jeffrey S. Flier sold 11,136 shares of Scholar Rock stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $33.21, for a total value of $369,826.56. Following the completion of the transaction, the director now owns 11,136 shares in the company, valued at $369,826.56. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kristina Burow sold 5,400 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $160,488.00. Following the completion of the sale, the director now owns 21,071 shares in the company, valued at $626,230.12. The trade was a 20.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,452 shares of company stock worth $1,991,465. Company insiders own 13.30% of the company's stock.

Institutional Trading of Scholar Rock

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in shares of Scholar Rock by 6.6% in the 1st quarter. Rhumbline Advisers now owns 120,752 shares of the company's stock valued at $3,882,000 after acquiring an additional 7,491 shares during the last quarter. Strs Ohio acquired a new position in Scholar Rock in the first quarter valued at approximately $77,000. Intech Investment Management LLC increased its stake in Scholar Rock by 60.9% in the first quarter. Intech Investment Management LLC now owns 56,784 shares of the company's stock valued at $1,826,000 after purchasing an additional 21,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Scholar Rock by 25.6% in 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 purchasing an additional 34,594 shares during the last quarter. Finally, Exome Asset Management LLC raised its holdings in Scholar Rock by 8.9% during the first quarter. Exome Asset Management LLC now owns 84,339 shares of the company's stock worth $2,711,000 after purchasing an additional 6,900 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.