Scholar Rock (NASDAQ:SRRK) Stock Price Up 2.9%

Scholar Rock Holding Co. (NASDAQ:SRRK) traded up 2.9% on Tuesday . The company traded as high as $13.75 and last traded at $13.72. 49,355 shares changed hands during trading, a decline of 94% from the average session volume of 776,547 shares. The stock had previously closed at $13.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $20.00 target price on shares of Scholar Rock in a research note on Wednesday, April 3rd. Piper Sandler reissued an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a research report on Tuesday, March 26th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a research report on Tuesday, March 19th. Wedbush reissued an “outperform” rating and set a $23.00 price target on shares of Scholar Rock in a research report on Tuesday, January 23rd. Finally, Raymond James initiated coverage on Scholar Rock in a research report on Thursday, March 28th. They set a “strong-buy” rating and a $30.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $25.17.

Scholar Rock Stock Performance

The stock has a fifty day simple moving average of $15.59 and a two-hundred day simple moving average of $14.16. The company has a quick ratio of 8.80, a current ratio of 8.80 and a debt-to-equity ratio of 0.22.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Tuesday, March 19th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). On average, analysts forecast that Scholar Rock Holding Co. will post -2.01 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 2,512 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the sale, the insider now owns 147,019 shares of the company’s stock, valued at approximately $2,314,079.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Mo Qatanani sold 2,512 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the completion of the transaction, the insider now directly owns 147,019 shares in the company, valued at approximately $2,314,079.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay T. Backstrom sold 11,614 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $182,804.36. Following the completion of the transaction, the chief executive officer now owns 352,671 shares of the company’s stock, valued at $5,551,041.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,359 shares of company stock valued at $351,931. 26.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SRRK. Royal Bank of Canada raised its position in Scholar Rock by 192.3% during the 2nd quarter. Royal Bank of Canada now owns 3,493 shares of the company’s stock worth $26,000 after purchasing an additional 2,298 shares during the last quarter. Amalgamated Bank raised its position in Scholar Rock by 52.8% during the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock worth $30,000 after purchasing an additional 1,458 shares during the last quarter. UBS Group AG raised its position in Scholar Rock by 279.0% during the 1st quarter. UBS Group AG now owns 4,328 shares of the company’s stock worth $35,000 after purchasing an additional 3,186 shares during the last quarter. Point72 Hong Kong Ltd raised its position in Scholar Rock by 1,388.7% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,171 shares of the company’s stock worth $41,000 after purchasing an additional 2,958 shares during the last quarter. Finally, Alpha Paradigm Partners LLC bought a new position in Scholar Rock during the 3rd quarter worth $50,000. 91.08% of the stock is currently owned by institutional investors.

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.