Scholar Rock (NASDAQ:SRRK) Reaches New 12-Month High – Here’s What Happened

by · The Markets Daily

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRKGet Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $48.28 and last traded at $46.2020, with a volume of 77686 shares traded. The stock had previously closed at $47.76.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SRRK shares. JPMorgan Chase & Co. upped their target price on Scholar Rock from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Bank of America began coverage on Scholar Rock in a report on Thursday, October 9th. They set a “buy” rating and a $53.00 price objective for the company. UBS Group began coverage on shares of Scholar Rock in a research report on Wednesday, January 7th. They issued a “buy” rating and a $60.00 price objective on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Scholar Rock has an average rating of “Buy” and a consensus price target of $50.14.

View Our Latest Stock Report on Scholar Rock

Scholar Rock Price Performance

The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average of $43.59 and a two-hundred day moving average of $37.24. The company has a market capitalization of $4.72 billion, a PE ratio of -14.67 and a beta of 0.63.

Scholar Rock (NASDAQ:SRRKGet Free Report) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter in the previous year, the company earned ($0.66) EPS. Research analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Insider Activity

In other Scholar Rock news, COO Keith Woods sold 16,746 shares of Scholar Rock stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $42.70, for a total transaction of $715,054.20. Following the completion of the transaction, the chief operating officer owned 583,254 shares in the company, valued at approximately $24,904,945.80. The trade was a 2.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Akshay Vaishnaw sold 20,438 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $42.70, for a total transaction of $872,702.60. Following the completion of the transaction, the insider owned 595,767 shares in the company, valued at approximately $25,439,250.90. This represents a 3.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 290,789 shares of company stock valued at $12,844,688. 13.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Scholar Rock

Institutional investors and hedge funds have recently bought and sold shares of the stock. Moody Aldrich Partners LLC boosted its stake in shares of Scholar Rock by 53.5% in the third quarter. Moody Aldrich Partners LLC now owns 101,742 shares of the company’s stock worth $3,789,000 after acquiring an additional 35,481 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. boosted its holdings in shares of Scholar Rock by 145.3% in the 2nd quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 769,442 shares of the company’s stock worth $27,254,000 after purchasing an additional 455,753 shares during the period. Norges Bank bought a new position in Scholar Rock during the second quarter valued at $41,628,000. Voya Investment Management LLC raised its holdings in shares of Scholar Rock by 18.1% in the third quarter. Voya Investment Management LLC now owns 443,155 shares of the company’s stock worth $16,503,000 after buying an additional 67,839 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Scholar Rock by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 692,676 shares of the company’s stock valued at $24,535,000 after buying an additional 28,749 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

About Scholar Rock

(Get Free Report)

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).

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