Scholar Rock (NASDAQ:SRRK) Trading Up 6.6% - Still a Buy?

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) traded up 6.6% during trading on Wednesday . The company traded as high as $32.15 and last traded at $32.04. 1,009,307 shares were traded during mid-day trading, a decline of 14% from the average session volume of 1,177,885 shares. The stock had previously closed at $30.06.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research note on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $42.67.

Scholar Rock Trading Down 3.2 %

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 firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -11.08 and a beta of 0.56. The business's 50 day moving average price is $36.31 and its 200-day moving average price is $34.01.

Insider Activity

In related news, insider Tracey Sacco sold 6,500 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $33.08, for a total transaction of $215,020.00. Following the sale, the insider now owns 71,750 shares of the company's stock, valued at approximately $2,373,490. The trade was a 8.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the completion of the transaction, the chief executive officer now directly owns 330,363 shares of the company's stock, valued at approximately $14,602,044.60. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 299,772 shares of company stock valued at $11,245,798 in the last three months. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company's stock worth $34,000 after buying an additional 269 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Scholar Rock by 584.7% in the fourth 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 grew its position in shares of Scholar Rock by 1,321.8% in the fourth 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. purchased a new position in shares of Scholar Rock during the 4th quarter worth approximately $85,000. Finally, Amalgamated Bank raised its position in shares of Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after purchasing an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Scholar Rock Company Profile

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.