Scholar Rock (NASDAQ:SRRK) Reaches New 12-Month High – Here’s Why

by · The Markets Daily

Scholar Rock Holding Corporation (NASDAQ:SRRKGet Free Report)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $48.61 and last traded at $48.6410, with a volume of 55601 shares trading hands. The stock had previously closed at $46.61.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SRRK shares. JPMorgan Chase & Co. raised their price target on Scholar Rock from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Barclays increased their target price on Scholar Rock from $45.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Scholar Rock in a report on Thursday, December 11th. Citigroup assumed coverage on Scholar Rock in a research note on Friday, January 9th. They issued a “buy” rating and a $55.00 price target for the company. Finally, Bank of America started coverage on shares of Scholar Rock in a research report on Thursday, October 9th. They issued a “buy” rating and a $53.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $51.14.

Check Out Our Latest Stock Report on SRRK

Scholar Rock Price Performance

The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average price of $44.36 and a two-hundred day moving average price of $37.54. The firm has a market cap of $5.04 billion, a P/E ratio of -15.73 and a beta of 0.67.

Scholar Rock (NASDAQ:SRRKGet Free Report) last posted its earnings results on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). During the same period last year, the company earned ($0.66) earnings per share. Equities analysts anticipate that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In related news, insider Caryn Parlavecchio sold 6,600 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $44.48, for a total value of $293,568.00. Following the sale, the insider directly owned 148,864 shares of the company’s stock, valued at approximately $6,621,470.72. The trade was a 4.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mo Qatanani sold 14,898 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $46.71, for a total transaction of $695,885.58. Following the completion of the transaction, the insider directly owned 85,660 shares of the company’s stock, valued at approximately $4,001,178.60. The trade was a 14.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 305,687 shares of company stock valued at $13,540,573 over the last quarter. 13.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Ramirez Asset Management Inc. acquired a new stake in Scholar Rock in the 3rd quarter valued at approximately $37,000. Penserra Capital Management LLC bought a new position in shares of Scholar Rock during the 3rd quarter worth approximately $56,000. Strs Ohio bought a new position in shares of Scholar Rock during the 1st quarter worth approximately $77,000. Bessemer Group Inc. raised its holdings in shares of Scholar Rock by 970.0% in the third quarter. Bessemer Group Inc. now owns 2,322 shares of the company’s stock valued at $86,000 after purchasing an additional 2,105 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Scholar Rock in the second quarter worth $94,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Company Profile

(Get Free Report)

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).

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