Scholar Rock (NASDAQ:SRRK) Stock Price Up 6.8%

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) were up 6.8% during mid-day trading on Thursday . The stock traded as high as $8.39 and last traded at $8.37. Approximately 763,200 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 838,781 shares. The stock had previously closed at $7.84.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SRRK shares. Wedbush restated an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a report on Tuesday, May 7th. Piper Sandler restated an “overweight” rating and issued a $28.00 target price on shares of Scholar Rock in a report on Tuesday, March 26th. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a report on Tuesday. Raymond James started coverage on shares of Scholar Rock in a report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 target price on the stock. Finally, BMO Capital Markets raised their target price on shares of Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $26.00.

Scholar Rock Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.58 and a current ratio of 6.58. The business’s 50 day moving average is $11.46 and its two-hundred day moving average is $14.46.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same quarter in the prior year, the firm posted ($0.46) EPS. As a group, equities analysts expect that Scholar Rock Holding Co. will post -2.4 earnings per share for the current year.

Insider Activity at Scholar Rock

In other news, General Counsel Junlin Ho sold 4,695 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $42,161.10. Following the sale, the general counsel now directly owns 204,076 shares in the company, valued at approximately $1,832,602.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Scholar Rock news, CFO Edward H. Myles sold 9,458 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $84,932.84. Following the transaction, the chief financial officer now directly owns 201,518 shares in the company, valued at approximately $1,809,631.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Junlin Ho sold 4,695 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the transaction, the general counsel now owns 204,076 shares in the company, valued at $1,832,602.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,468 shares of company stock worth $147,883. 26.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds and other institutional investors have recently modified their holdings of SRRK. Polar Capital Holdings Plc bought a new position in shares of Scholar Rock during the third quarter valued at approximately $10,664,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Scholar Rock by 16.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock worth $156,444,000 after buying an additional 1,149,519 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in shares of Scholar Rock in the fourth quarter worth $18,287,000. Goldman Sachs Group Inc. increased its stake in shares of Scholar Rock by 31.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock worth $26,898,000 after acquiring an additional 342,690 shares during the period. Finally, Redmile Group LLC grew its position in Scholar Rock by 7.5% during the third quarter. Redmile Group LLC now owns 4,733,248 shares of the company’s stock valued at $33,606,000 after buying an additional 329,408 shares during the period. 91.08% of the stock is currently owned by 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.