Scholar Rock (NASDAQ:SRRK) Trading 6.6% Higher – Still a Buy?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price rose 6.6% during mid-day trading on Wednesday . The stock traded as high as $32.15 and last traded at $32.04. Approximately 1,009,307 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 1,177,885 shares. The stock had previously closed at $30.06.

Analyst Ratings Changes

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

Scholar Rock Stock Performance

The firm’s fifty day moving average price is $37.22 and its 200 day moving average price is $33.55. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -13.63 and a beta of 0.59. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Transactions at Scholar Rock

In related news, insider Mo Qatanani sold 68,510 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the sale, the insider now directly owns 111,084 shares in the company, valued at approximately $4,154,541.60. This represents a 38.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 142,292 shares of Scholar Rock stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the completion of the transaction, the chief financial officer now owns 111,345 shares of the company’s stock, valued at $3,966,108.90. This represents a 56.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is currently owned by company insiders.

Institutional Trading of Scholar Rock

A number of institutional investors have recently bought and sold shares of SRRK. Intech Investment Management LLC purchased a new stake in Scholar Rock during the third quarter worth approximately $202,000. Charles Schwab Investment Management Inc. boosted its stake in Scholar Rock by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after acquiring an additional 42,139 shares in the last quarter. FMR LLC grew its holdings in shares of Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after purchasing an additional 308,813 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Scholar Rock by 900.6% in the third quarter. BNP Paribas Financial Markets now owns 36,331 shares of the company’s stock valued at $291,000 after buying an additional 32,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Scholar Rock by 7.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock worth $759,000 after buying an additional 6,269 shares during the period. 91.08% of the stock is owned by hedge funds and other 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.