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.
Read Our Latest Report on Scholar Rock
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
(
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.
Further Reading
Before you consider Scholar Rock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Scholar Rock wasn't on the list.
While Scholar Rock currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.