Scholar Rock (NASDAQ:SRRK) Trading 9.2% Higher – Time to Buy?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price was up 9.2% on Friday . The company traded as high as $29.17 and last traded at $29.12. Approximately 317,947 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,124,785 shares. The stock had previously closed at $26.67.

Analysts Set New Price Targets

Several brokerages have issued reports on SRRK. Wedbush reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Scholar Rock in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. HC Wainwright lifted their price target on shares of Scholar Rock from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Piper Sandler increased their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets raised their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Scholar Rock presently has an average rating of “Buy” and an average price target of $34.00.

Scholar Rock Price Performance

The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $22.10 and its 200-day moving average price is $13.95. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -12.67 and a beta of 0.47.

Insider Activity

In other news, insider Tracey Sacco sold 30,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now owns 49,285 shares of the company’s stock, valued at $1,262,681.70. This represents a 37.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,278,497.28. This represents a 56.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,413,889 shares of company stock valued at $40,652,551. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC increased its holdings in shares of Scholar Rock by 95.5% in the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after acquiring an additional 119,363 shares in the last quarter. Clearbridge Investments LLC bought a new position in Scholar Rock in the second quarter valued at approximately $6,223,000. Kennedy Capital Management LLC acquired a new position in shares of Scholar Rock in the first quarter valued at approximately $4,900,000. Vanguard Group Inc. increased its position in shares of Scholar Rock by 4.0% during the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after acquiring an additional 114,550 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Scholar Rock during the third quarter worth $1,093,000. 91.08% of the stock is owned by institutional investors.

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.