Scholar Rock (NASDAQ:SRRK) Trading 5.8% Higher – Here’s Why

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price shot up 5.8% on Monday . The company traded as high as $43.50 and last traded at $42.85. 533,328 shares traded hands 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.

Wall Street Analyst Weigh In

A number of analysts have commented on SRRK shares. JPMorgan Chase & Co. boosted their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. HC Wainwright upped their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler boosted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial raised their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Scholar Rock in a report on Thursday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Stock Up 5.2 %

The company has a market cap of $3.99 billion, a PE ratio of -18.13 and a beta of 0.52. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $37.85 and a 200-day moving average of $21.84.

Insider Activity at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the transaction, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC purchased a new stake in Scholar Rock during the second quarter valued at about $6,223,000. Fisher Asset Management LLC boosted its holdings in Scholar Rock by 593.6% during the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock valued at $5,879,000 after acquiring an additional 628,186 shares during the period. Millennium Management LLC grew its position in Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after acquiring an additional 568,512 shares during the last quarter. Marshall Wace LLP increased its stake in Scholar Rock by 1,051.3% in the 2nd quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after purchasing an additional 444,961 shares during the period. Finally, FMR LLC increased its stake in Scholar Rock by 3.1% in the 3rd 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 period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.