Scholar Rock (NASDAQ:SRRK) Trading Up 6.6% – What’s Next?

Scholar Rock Holding Co. (NASDAQ:SRRK) traded up 6.6% on Wednesday . The stock traded as high as $32.15 and last traded at $32.04. 1,009,307 shares changed hands during trading, a decline of 14% from the average session volume of 1,177,885 shares. The stock had previously closed at $30.06.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $42.67.

Scholar Rock Stock Down 12.4 %

The firm has a market cap of $2.55 billion, a PE ratio of -11.45 and a beta of 0.56. The stock has a 50 day simple moving average of $36.31 and a 200-day simple moving average of $33.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Insider Buying and Selling at Scholar Rock

In other news, CFO Edward H. Myles sold 142,292 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the sale, the chief financial officer now owns 111,345 shares in the company, valued at $3,966,108.90. This represents a 56.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the completion of the transaction, the insider now owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 299,772 shares of company stock worth $11,245,798. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in Scholar Rock by 51.8% during the 4th 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. Quarry LP lifted its position in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after purchasing an additional 4,373 shares during the period. Global Retirement Partners LLC lifted its position in Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Scholar Rock in the 4th quarter worth approximately $85,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.