Scholar Rock (NASDAQ:SRRK) Trading 6.1% Higher – Should You Buy?

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) traded up 6.1% on Wednesday . The stock traded as high as $37.30 and last traded at $36.62. 106,510 shares changed hands during trading, a decline of 91% from the average session volume of 1,158,666 shares. The stock had previously closed at $34.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SRRK shares. HC Wainwright raised their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial increased their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Wedbush reissued an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Trading Up 4.4 %

The business has a 50 day moving average price of $40.02 and a 200 day moving average price of $30.95. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.41 billion, a P/E ratio of -15.30 and a beta of 0.59.

Insider Transactions at Scholar Rock

In other Scholar Rock news, insider Jing L. Marantz sold 5,655 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $249,951.00. Following the completion of the transaction, the insider now directly owns 67,200 shares in the company, valued at approximately $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mo Qatanani sold 68,510 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the sale, the insider now directly owns 111,084 shares of the company’s stock, valued at $4,154,541.60. This represents a 38.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 149,974 shares of company stock worth $5,927,710 in the last 90 days. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Scholar Rock by 51.8% during 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 last quarter. JPMorgan Chase & Co. boosted its holdings in Scholar Rock by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after buying an additional 379 shares during the period. Amalgamated Bank boosted its position in shares of Scholar Rock by 30.6% during the fourth 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 increased its stake in Scholar Rock by 584.7% during the fourth 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, Nisa Investment Advisors LLC increased its position in shares of Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after acquiring an additional 1,031 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.