Scholar Rock (NASDAQ:SRRK) Shares Up 6.5% - Here's Why

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) traded up 6.5% on Wednesday . The company traded as high as $37.00 and last traded at $36.47. 423,890 shares traded 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.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Wedbush reissued an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research report on Wednesday, June 18th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $42.67.

Scholar Rock Trading Up 3.1%

The company has a quick ratio of 10.25, a current ratio of 10.25 and a debt-to-equity ratio of 0.16. The business's fifty day moving average is $32.69 and its 200 day moving average is $35.31. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -15.07 and a beta of 0.33.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued 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 last year, the business posted ($0.59) EPS. Equities analysts predict that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 24,066 shares of Scholar Rock stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total value of $828,833.04. Following the sale, the insider directly owned 115,495 shares in the company, valued at approximately $3,977,647.80. The trade was a 17.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joshua Reed sold 5,400 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.72, for a total transaction of $160,488.00. Following the transaction, the director owned 15,732 shares in the company, valued at $467,555.04. This represents a 25.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,518 shares of company stock valued at $2,820,298 over the last quarter. 13.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SRRK. FMR LLC boosted its holdings in shares of Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company's stock worth $589,316,000 after buying an additional 3,439,215 shares during the period. Marshall Wace LLP lifted its holdings 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 acquiring an additional 2,732,546 shares during the period. Norges Bank bought a new stake in shares of Scholar Rock during the 4th quarter worth approximately $86,043,000. Fairmount Funds Management LLC bought a new stake in shares of Scholar Rock during the 4th quarter worth approximately $84,839,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Scholar Rock during the 4th quarter worth approximately $68,930,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.