Scholar Rock (NASDAQ:SRRK) Shares Gap Up to $15.45

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $15.45, but opened at $17.19. Scholar Rock shares last traded at $15.73, with a volume of 119,036 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SRRK shares. Truist Financial restated a “buy” rating and issued a $20.00 price objective on shares of Scholar Rock in a research note on Monday. Piper Sandler restated an “overweight” rating and set a $28.00 target price on shares of Scholar Rock in a research report on Tuesday. Wedbush restated an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a research report on Tuesday, January 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a report on Tuesday, March 19th. Finally, Raymond James began coverage on shares of Scholar Rock in a research note on Thursday. They set a “strong-buy” rating and a $30.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and an average price target of $25.17.

Scholar Rock Price Performance

The company has a quick ratio of 8.80, a current ratio of 8.80 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.38 billion, a P/E ratio of -8.33 and a beta of 0.89. The business has a 50 day simple moving average of $15.55 and a 200-day simple moving average of $13.32.

Insider Activity at Scholar Rock

In related news, SVP Mo Qatanani sold 2,002 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total transaction of $31,891.86. Following the completion of the sale, the senior vice president now directly owns 78,816 shares of the company’s stock, valued at $1,255,538.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Mo Qatanani sold 2,002 shares of Scholar Rock stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $15.93, for a total value of $31,891.86. Following the transaction, the senior vice president now owns 78,816 shares of the company’s stock, valued at approximately $1,255,538.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward H. Myles sold 12,459 shares of Scholar Rock stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $18.83, for a total value of $234,602.97. Following the transaction, the chief financial officer now directly owns 168,784 shares in the company, valued at approximately $3,178,202.72. The disclosure for this sale can be found here. Insiders have sold a total of 46,303 shares of company stock worth $769,490 over the last ninety days. 26.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently made changes to their positions in the company. Swiss National Bank lifted its holdings in shares of Scholar Rock by 9.3% during the first quarter. Swiss National Bank now owns 54,000 shares of the company’s stock worth $696,000 after buying an additional 4,600 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Scholar Rock by 54.1% during the first quarter. MetLife Investment Management LLC now owns 16,604 shares of the company’s stock valued at $214,000 after acquiring an additional 5,832 shares during the period. Rhumbline Advisers lifted its stake in shares of Scholar Rock by 7.0% during the first quarter. Rhumbline Advisers now owns 29,405 shares of the company’s stock valued at $379,000 after acquiring an additional 1,918 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Scholar Rock by 23.8% during the first quarter. Dimensional Fund Advisors LP now owns 178,984 shares of the company’s stock valued at $2,307,000 after acquiring an additional 34,416 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Scholar Rock by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,490,795 shares of the company’s stock valued at $19,217,000 after buying an additional 38,917 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.