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

Scholar Rock Holding Co. (NASDAQ:SRRK) shares gapped up prior to trading 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.

Wall Street Analyst Weigh In

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

Scholar Rock Stock Performance

The company has a market cap of $1.38 billion, a price-to-earnings ratio of -8.33 and a beta of 0.89. 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 firm has a 50-day simple moving average of $15.55 and a 200 day simple moving average of $13.32.

Insider Activity

In related news, CFO Edward H. Myles sold 12,459 shares of Scholar Rock stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $18.83, for a total value of $234,602.97. Following the sale, the chief financial officer now directly owns 168,784 shares in the company, valued at $3,178,202.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Mo Qatanani sold 2,002 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $15.93, for a total transaction of $31,891.86. Following the sale, the senior vice president now owns 78,816 shares of the company’s stock, valued at $1,255,538.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Edward H. Myles sold 12,459 shares of the stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $18.83, for a total value of $234,602.97. Following the transaction, the chief financial officer now owns 168,784 shares in the company, valued at $3,178,202.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,303 shares of company stock valued at $769,490. Company insiders own 26.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Several large investors have recently added to or reduced their stakes in SRRK. Amalgamated Bank raised its holdings in shares of Scholar Rock by 15.5% during the 4th quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after buying an additional 652 shares during the period. Legal & General Group Plc grew its position in shares of Scholar Rock by 8.1% in the 4th quarter. Legal & General Group Plc now owns 14,265 shares of the company’s stock worth $129,000 after acquiring an additional 1,072 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Scholar Rock by 4.1% in the 3rd quarter. Alps Advisors Inc. now owns 41,535 shares of the company’s stock worth $295,000 after purchasing an additional 1,628 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Scholar Rock by 4.2% in the 3rd quarter. California State Teachers Retirement System now owns 43,175 shares of the company’s stock worth $307,000 after purchasing an additional 1,730 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Scholar Rock by 7.0% in the 1st quarter. Rhumbline Advisers now owns 29,405 shares of the company’s stock worth $379,000 after purchasing an additional 1,918 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.