Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report)'s stock price rose 5.9% on Thursday . The stock traded as high as $32.59 and last traded at $32.64. Approximately 388,290 shares traded hands during trading, a decline of 69% from the average daily volume of 1,266,727 shares. The stock had previously closed at $30.82.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on SRRK shares. Wedbush reiterated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research report on Wednesday, May 14th. Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $42.67.
Check Out Our Latest Stock Report on SRRK
Scholar Rock Price Performance
The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -14.57 and a beta of 0.28. The company has a 50-day moving average price of $30.37 and a 200-day moving average price of $36.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.
Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period in the prior year, the business posted ($0.59) earnings per share. On average, equities research analysts expect that Scholar Rock Holding Co. will post -2.42 EPS for the current fiscal year.
Insider Transactions at Scholar Rock
In related news, CFO Edward H. Myles sold 142,292 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the transaction, the chief financial officer now directly owns 111,345 shares in the company, valued at approximately $3,966,108.90. The trade was a 56.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Akshay Vaishnaw sold 6,750 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 616,205 shares of the company's stock, valued at $18,313,612.60. This represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,798 shares of company stock worth $6,284,738. 13.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Scholar Rock
A number of large investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. boosted its position in Scholar Rock by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after acquiring an additional 430 shares during the last quarter. CWM LLC boosted its position in Scholar Rock by 152.8% during the 1st quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after acquiring an additional 602 shares during the last quarter. Amalgamated Bank boosted its position in Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after acquiring an additional 620 shares during the last quarter. Global Retirement Partners LLC boosted its position in Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock worth $39,000 after acquiring an additional 766 shares during the last quarter. Finally, Corebridge Financial Inc. boosted its position in Scholar Rock by 2.2% during the 1st quarter. Corebridge Financial Inc. now owns 39,389 shares of the company's stock worth $1,266,000 after acquiring an additional 850 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company's stock.
About Scholar Rock
(
Get Free Report)
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.
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