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Scholar Rock (NASDAQ:SRRK) Stock Price Up 9.2% - Still a Buy?

Scholar Rock logo with Medical background

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report)'s stock price rose 9.2% during mid-day trading on Friday . The company traded as high as $29.17 and last traded at $29.12. Approximately 317,947 shares changed hands during trading, a decline of 72% from the average daily volume of 1,124,785 shares. The stock had previously closed at $26.67.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SRRK shares. JPMorgan Chase & Co. upped their price target on Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Piper Sandler boosted their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. 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 note on Friday, October 11th. HC Wainwright raised their price target on Scholar Rock from $35.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Wedbush restated an "outperform" rating and issued a $37.00 price objective on shares of Scholar Rock in a research report on Monday, November 4th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $34.00.

View Our Latest Analysis on SRRK

Scholar Rock Stock Up 12.2 %

The business has a 50-day moving average of $22.10 and a 200 day moving average of $13.95. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The company has a market capitalization of $2.80 billion, a PE ratio of -12.67 and a beta of 0.47.

Insider Buying and Selling

In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the sale, the director now owns 5,612,896 shares in the company, valued at $164,177,208. The trade was a 17.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the business's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the sale, the chief financial officer now owns 161,088 shares in the company, valued at $4,278,497.28. This represents a 56.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,413,889 shares of company stock worth $40,652,551 over the last three months. 19.20% of the stock is owned by insiders.

Institutional Trading of Scholar Rock

A number of institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $25,000 after purchasing an additional 514 shares during the period. Quarry LP increased its holdings in shares of Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company's stock valued at $36,000 after purchasing an additional 4,373 shares in the last quarter. Walleye Trading LLC purchased a new position in Scholar Rock in the first quarter valued at about $178,000. Principal Financial Group Inc. acquired a new stake in Scholar Rock in the second quarter valued at $98,000. Finally, Hsbc Holdings PLC purchased a new stake in Scholar Rock in the 2nd quarter valued at approximately $100,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Company Profile

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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