Scholar Rock (NASDAQ:SRRK) Sets New 52-Week High at $13.11

Posted by Defense World Staff on Nov 5th, 2023

Scholar Rock Holding Co. (NASDAQ:SRRK – Get Free Report)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $13.11 and last traded at $12.89, with a volume of 40491 shares trading hands. The stock had previously closed at $12.54.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SRRK shares. Jefferies Financial Group upgraded Scholar Rock from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, October 25th. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a research report on Thursday, October 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a report on Tuesday, October 31st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $25.17.

Check Out Our Latest Stock Report on Scholar Rock

Scholar Rock Price Performance

The company has a 50-day moving average of $7.55 and a 200-day moving average of $7.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 10.70 and a current ratio of 10.70. The stock has a market cap of $697.81 million, a price-to-earnings ratio of -6.30 and a beta of 0.66.

Scholar Rock (NASDAQ:SRRK – Get Free Report) last released its earnings results on Wednesday, August 9th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.06. During the same quarter last year, the firm posted ($1.06) earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts predict that Scholar Rock Holding Co. will post -1.95 earnings per share for the current year.

Insider Transactions at Scholar Rock

In related news, CFO Edward H. Myles sold 35,007 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $12.51, for a total value of $437,937.57. Following the sale, the chief financial officer now owns 168,784 shares of the company’s stock, valued at approximately $2,111,487.84. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Edward H. Myles sold 35,007 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $12.51, for a total value of $437,937.57. Following the completion of the transaction, the chief financial officer now owns 168,784 shares of the company’s stock, valued at $2,111,487.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Public Equities L.P. Invus purchased 2,199,931 shares of the business’s stock in a transaction on Thursday, October 12th. The stock was acquired at an average price of $6.86 per share, with a total value of $15,091,526.66. Following the completion of the acquisition, the insider now directly owns 11,259,438 shares in the company, valued at approximately $77,239,744.68. The disclosure for this purchase can be found here. Insiders sold 38,305 shares of company stock valued at $459,510 in the last 90 days. 26.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SRRK. Artal Group S.A. lifted its position in Scholar Rock by 0.3% during the 2nd quarter. Artal Group S.A. now owns 9,059,507 shares of the company’s stock worth $68,309,000 after acquiring an additional 31,557 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Scholar Rock by 47.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,436,185 shares of the company’s stock worth $46,315,000 after buying an additional 2,704,442 shares during the period. FMR LLC lifted its holdings in Scholar Rock by 0.7% in the 1st quarter. FMR LLC now owns 7,368,559 shares of the company’s stock worth $58,948,000 after buying an additional 48,252 shares in the last quarter. BlackRock Inc. lifted its holdings in Scholar Rock by 115.5% in the 2nd quarter. BlackRock Inc. now owns 2,790,971 shares of the company’s stock worth $21,044,000 after buying an additional 1,495,618 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Scholar Rock by 48.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,884,221 shares of the company’s stock valued at $13,058,000 after buying an additional 611,159 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Company Profile

(Get Free Report)

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development 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 latent myostatin that has completed the Phase 3 clinical trials for the treatment of spinal muscular atrophy; and SRK-181, which is in 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.