Scholar Rock (NASDAQ:SRRK) Shares Up 6.5% - Should You Buy?

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report)'s stock price shot up 6.5% during mid-day trading on Wednesday . The stock traded as high as $37.00 and last traded at $36.47. 423,890 shares changed hands during trading, a decline of 67% from the average session volume of 1,291,833 shares. The stock had previously closed at $34.24.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SRRK. Lifesci Capital upgraded shares of Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Wedbush reiterated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a report on Wednesday, June 18th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Scholar Rock currently has a consensus rating of "Buy" and an average price target of $42.67.

Scholar Rock Stock Up 0.4%

The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -14.68 and a beta of 0.33. The stock has a fifty day moving average of $32.59 and a two-hundred day moving average of $35.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.25 and a quick ratio of 10.25.

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

Insiders Place Their Bets

In other Scholar Rock news, Director Michael Gilman sold 3,375 shares of the company'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 $100,305.00. Following the sale, the director owned 55,216 shares of the company's stock, valued at approximately $1,641,019.52. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey S. Flier sold 11,136 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $33.21, for a total transaction of $369,826.56. Following the sale, the director directly owned 11,136 shares in the company, valued at $369,826.56. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,452 shares of company stock valued at $1,991,465 over the last ninety days. 13.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Scholar Rock

A number of institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Scholar Rock by 33.7% during the fourth quarter. FMR LLC now owns 13,635,261 shares of the company's stock valued at $589,316,000 after acquiring an additional 3,439,215 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Scholar Rock by 7.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company's stock worth $401,231,000 after purchasing an additional 629,315 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Scholar Rock by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company's stock worth $155,773,000 after purchasing an additional 101,723 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Scholar Rock by 1,283.7% during the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock worth $127,301,000 after purchasing an additional 2,732,546 shares in the last quarter. Finally, Bellevue Group AG boosted its position in shares of Scholar Rock by 16.2% during the 4th quarter. Bellevue Group AG now owns 2,510,690 shares of the company's stock worth $108,512,000 after purchasing an additional 349,487 shares in the last quarter. Institutional investors 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.