Scholar Rock (NASDAQ:SRRK) Shares Up 8.7% – What’s Next?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price shot up 8.7% on Friday . The stock traded as high as $38.60 and last traded at $39.08. 564,299 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 872,711 shares. The stock had previously closed at $35.96.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. HC Wainwright boosted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Wedbush restated an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a research report on Wednesday, January 29th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $40.43.

Scholar Rock Stock Up 8.0 %

The company has a market capitalization of $3.63 billion, a P/E ratio of -16.52 and a beta of 0.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The firm’s fifty day moving average is $41.22 and its 200-day moving average is $29.50.

Insider Activity at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 12,539 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $554,223.80. Following the sale, the chief financial officer now directly owns 148,549 shares of the company’s stock, valued at $6,565,865.80. The trade was a 7.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jay T. Backstrom sold 22,308 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $986,013.60. Following the sale, the chief executive officer now directly owns 330,363 shares in the company, valued at $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,974 shares of company stock valued at $5,927,710. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Scholar Rock in the 4th quarter valued at $85,000. Finally, Amalgamated Bank boosted its stake in shares of Scholar Rock by 30.6% in the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock valued at $114,000 after purchasing an additional 620 shares during the last quarter. 91.08% of the stock is owned by 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.