Scholar Rock (NASDAQ:SRRK) Trading Up 9.2% – Should You Buy?

Scholar Rock Holding Co. (NASDAQ:SRRK) shot up 9.2% during trading on Friday . The stock traded as high as $29.17 and last traded at $29.12. 317,947 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,124,785 shares. The stock had previously closed at $26.67.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $37.00 price target on shares of Scholar Rock in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. HC Wainwright increased their price target on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets raised their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, Piper Sandler upped their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $34.00.

Scholar Rock Trading Up 12.2 %

The business’s 50-day simple moving average is $22.52 and its two-hundred day simple moving average is $14.05. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.80 billion, a PE ratio of -12.73 and a beta of 0.47.

Insider Activity at Scholar Rock

In other news, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the sale, the chief financial officer now owns 161,088 shares in the company, valued at approximately $4,278,497.28. This represents a 56.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the transaction, the director now directly owns 5,612,896 shares in the company, valued at $164,177,208. The trade was a 17.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,413,889 shares of company stock valued at $40,652,551. Insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. Quarry LP lifted its stake in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Scholar Rock in the second quarter worth $98,000. Hsbc Holdings PLC bought a new stake in Scholar Rock during the second quarter valued at $100,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Scholar Rock during the second quarter worth $103,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.