Scholar Rock (NASDAQ:SRRK) Shares Up 5.8% – Still a Buy?

Scholar Rock Holding Corporation (NASDAQ:SRRK)’s share price was up 5.8% on Wednesday . The company traded as high as $61.28 and last traded at $61.6150. Approximately 1,244,564 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 1,327,546 shares. The stock had previously closed at $58.25.

Analysts Set New Price Targets

SRRK has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Scholar Rock in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. JPMorgan Chase & Co. upped their target price on Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Finally, Citigroup lifted their price target on Scholar Rock from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $58.77.

Scholar Rock Trading Up 4.6%

The stock has a 50 day moving average of $52.36 and a 200 day moving average of $48.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02. The firm has a market cap of $7.42 billion, a P/E ratio of -17.67 and a beta of 0.69.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, meeting the consensus estimate of ($0.84). During the same period in the prior year, the business earned ($0.98) EPS. As a group, equities research analysts predict that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Kristina Burow sold 3,053 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total value of $164,068.22. Following the completion of the sale, the director directly owned 114,657 shares of the company’s stock, valued at $6,161,667.18. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey S. Flier sold 3,053 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total value of $164,495.64. Following the transaction, the director directly owned 27,856 shares in the company, valued at $1,500,881.28. This trade represents a 9.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 17,149 shares of company stock worth $923,108 in the last 90 days. Corporate insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC boosted its position in shares of Scholar Rock by 74.0% during the fourth quarter. Jennison Associates LLC now owns 2,795,188 shares of the company’s stock valued at $123,128,000 after purchasing an additional 1,188,676 shares in the last quarter. Nicholas Investment Partners LP bought a new position in Scholar Rock in the second quarter worth $4,968,000. iA Global Asset Management Inc. purchased a new position in Scholar Rock during the fourth quarter valued at $5,430,000. Geode Capital Management LLC boosted its holdings in shares of Scholar Rock by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 2,034,024 shares of the company’s stock valued at $89,616,000 after buying an additional 79,214 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Scholar Rock in the 4th quarter worth about $91,603,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Company Profile

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).