Scholar Rock (NASDAQ:SRRK) Sees Large Volume Increase Following Analyst Upgrade

by · The Cerbat Gem

Scholar Rock Holding Co. (NASDAQ:SRRK – Get Free Report) shares saw unusually-strong trading volume on Tuesday after Wedbush raised their price target on the stock from $27.00 to $37.00. Wedbush currently has an outperform rating on the stock. Approximately 1,081,196 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 1,040,941 shares.The stock last traded at $34.74 and had previously closed at $34.28.

Other analysts have also issued reports about the company. HC Wainwright lifted their price objective on Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on Scholar Rock from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, BMO Capital Markets lifted their price objective on Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.75.

Check Out Our Latest Research Report on Scholar Rock

Insiders Place Their Bets

In other Scholar Rock news, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the transaction, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the transaction, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Edward H. Myles sold 206,240 shares of the business’s stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,415,340 shares of company stock worth $40,666,088. Insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Walleye Trading LLC acquired a new position in shares of Scholar Rock during the 1st quarter worth approximately $178,000. Principal Financial Group Inc. acquired a new position in shares of Scholar Rock during the 2nd quarter worth approximately $98,000. Hsbc Holdings PLC acquired a new position in shares of Scholar Rock during the 2nd quarter worth approximately $100,000. Point72 DIFC Ltd acquired a new position in shares of Scholar Rock during the 2nd quarter worth approximately $103,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Scholar Rock by 66.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,868 shares of the company’s stock worth $246,000 after acquiring an additional 5,522 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -13.29 and a beta of 0.82. The business has a fifty day moving average of $10.01 and a two-hundred day moving average of $10.99.

Scholar Rock (NASDAQ:SRRK – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same period in the prior year, the company earned ($0.47) earnings per share. As a group, research analysts predict that Scholar Rock Holding Co. will post -2.39 EPS for the current fiscal year.

About Scholar Rock

(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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