Scholar Rock (NASDAQ:SRRK) Trading Up 5.8% – Time to Buy?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price was up 5.8% during trading on Monday . The stock traded as high as $43.50 and last traded at $42.85. Approximately 533,328 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 887,089 shares. The stock had previously closed at $40.49.

Wall Street Analyst Weigh In

Several equities analysts have commented on SRRK shares. Truist Financial increased their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wedbush reiterated an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a research report on Thursday, January 9th. Piper Sandler increased their target price on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, BMO Capital Markets increased their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $40.43.

Scholar Rock Trading Up 6.7 %

The company has a market cap of $4.15 billion, a price-to-earnings ratio of -18.86 and a beta of 0.52. The firm has a 50 day moving average price of $38.40 and a two-hundred day moving average price of $22.32. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Buying and Selling

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the sale, the insider now owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 19.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Several large investors have recently added to or reduced their stakes in SRRK. GAMMA Investing LLC grew its stake in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after acquiring an additional 269 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after acquiring an additional 514 shares during the period. Quarry LP grew its stake in Scholar Rock by 3,443.3% in the third quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after acquiring an additional 4,373 shares during the period. Principal Financial Group Inc. acquired a new stake in Scholar Rock in the second quarter valued at approximately $98,000. Finally, Hsbc Holdings PLC acquired a new stake in Scholar Rock in the second quarter valued at approximately $100,000. Institutional investors and hedge funds 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.