Scholar Rock (NASDAQ:SRRK) Trading Up 5.8% – Time to Buy?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price traded up 5.8% during trading on Monday . The company traded as high as $43.50 and last traded at $42.85. 533,328 shares were traded during mid-day trading, a decline of 40% from the average session volume of 887,089 shares. The stock had previously closed at $40.49.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial raised their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wedbush restated an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a report on Thursday, January 9th. HC Wainwright raised their target price on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler raised their target price on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, 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 report on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $40.43.

Scholar Rock Stock Up 6.7 %

The stock has a fifty day moving average of $38.40 and a 200 day moving average of $22.32. The firm has a market capitalization of $4.15 billion, a P/E ratio of -18.86 and a beta of 0.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Insider Buying and Selling

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 19.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Scholar Rock

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the last quarter. JPMorgan Chase & Co. increased its position in Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after buying an additional 379 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares during the last quarter. Cinctive Capital Management LP increased its position in Scholar Rock by 7.2% in the third quarter. Cinctive Capital Management LP now owns 42,902 shares of the company’s stock worth $344,000 after buying an additional 2,869 shares during the last quarter. Finally, Algert Global LLC increased its position in Scholar Rock by 34.7% in the second quarter. Algert Global LLC now owns 16,695 shares of the company’s stock worth $139,000 after buying an additional 4,305 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other 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.