Scholar Rock (NASDAQ:SRRK) Hits New 52-Week High – Time to Buy?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $46.42 and last traded at $45.02, with a volume of 622341 shares changing hands. The stock had previously closed at $44.88.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SRRK. Wedbush reissued an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a report on Thursday, January 9th. Truist Financial boosted their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. raised their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. HC Wainwright boosted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, BMO Capital Markets lifted their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and an average target price of $40.43.

Scholar Rock Trading Down 3.6 %

The business’s 50 day moving average price is $40.69 and its two-hundred day moving average price is $23.90. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -18.62 and a beta of 0.52.

Insiders Place Their Bets

In other news, General Counsel Junlin Ho sold 9,039 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $399,523.80. Following the completion of the sale, the general counsel now owns 195,037 shares in the company, valued at $8,620,635.40. This represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $38.49, for a total value of $15,759,076.17. Following the transaction, the insider now directly owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,974 shares of company stock worth $17,948,788 over the last ninety days. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after acquiring an additional 514 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 269 shares during the last quarter. Quarry LP boosted its position in shares of Scholar Rock by 3,443.3% in the 3rd 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. Nisa Investment Advisors LLC increased its stake in Scholar Rock by 1,321.8% in the 4th 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 in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Scholar Rock during the 2nd quarter worth about $100,000. 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.