Scholar Rock (NASDAQ:SRRK) Sets New 12-Month High - What's Next?

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $46.42 and last traded at $45.02, with a volume of 622341 shares trading hands. The stock had previously closed at $44.88.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SRRK shares. Truist Financial lifted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. HC Wainwright raised their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. BMO Capital Markets lifted 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. JPMorgan Chase & Co. upped their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Finally, Wedbush reiterated an "outperform" rating and issued a $47.00 price target on shares of Scholar Rock in a report on Thursday, January 9th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Scholar Rock has a consensus rating of "Buy" and an average price target of $40.43.

Scholar Rock Stock Performance

The company's 50 day moving average price is $39.94 and its 200-day moving average price is $23.59. The stock has a market cap of $4.26 billion, a P/E ratio of -19.23 and a beta of 0.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Insider Activity at Scholar Rock

In related news, CFO Edward H. Myles sold 12,539 shares of the company's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $554,223.80. Following the transaction, the chief financial officer now directly owns 148,549 shares of the company's stock, valued at $6,565,865.80. This represents a 7.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the transaction, the insider now owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 458,974 shares of company stock worth $17,948,788 over the last 90 days. 19.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRRK. Mirae Asset Global Investments Co. Ltd. raised its holdings in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock worth $25,000 after purchasing an additional 514 shares in the last quarter. GAMMA Investing LLC lifted its position 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 in the last quarter. Quarry LP grew its position in shares of 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 acquiring an additional 4,373 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in 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 acquiring an additional 1,031 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Scholar Rock in the 2nd quarter valued at about $100,000. 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.

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