Scholar Rock (NASDAQ:SRRK) Shares Gap Up to $8.45

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) gapped up before the market opened on Monday . The stock had previously closed at $8.45, but opened at $8.92. Scholar Rock shares last traded at $8.46, with a volume of 44,132 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on SRRK. Truist Financial restated a “buy” rating and set a $20.00 price target on shares of Scholar Rock in a research report on Wednesday, April 3rd. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a research report on Tuesday, June 4th. Piper Sandler restated an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a research report on Tuesday, March 26th. Raymond James started coverage on shares of Scholar Rock in a research report on Thursday, March 28th. They set a “strong-buy” rating and a $30.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a research report on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Scholar Rock has a consensus rating of “Buy” and a consensus target price of $26.00.

Scholar Rock Trading Up 0.4 %

The company’s 50-day moving average price is $12.02 and its 200-day moving average price is $14.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.58 and a quick ratio of 6.58.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the previous year, the firm earned ($0.46) EPS. Research analysts predict that Scholar Rock Holding Co. will post -2.4 earnings per share for the current fiscal year.

Insider Transactions at Scholar Rock

In other Scholar Rock news, General Counsel Junlin Ho sold 4,695 shares of Scholar Rock stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $42,161.10. Following the transaction, the general counsel now directly owns 204,076 shares of the company’s stock, valued at $1,832,602.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Scholar Rock news, CFO Edward H. Myles sold 9,458 shares of Scholar Rock stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $84,932.84. Following the transaction, the chief financial officer now directly owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Junlin Ho sold 4,695 shares of Scholar Rock stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $42,161.10. Following the transaction, the general counsel now directly owns 204,076 shares in the company, valued at $1,832,602.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,468 shares of company stock valued at $147,883. Corporate insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in shares of Scholar Rock by 16.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after acquiring an additional 1,149,519 shares during the last quarter. FMR LLC increased its position in shares of Scholar Rock by 3.8% during the third quarter. FMR LLC now owns 8,005,654 shares of the company’s stock valued at $56,840,000 after acquiring an additional 291,156 shares during the last quarter. Redmile Group LLC increased its position in shares of Scholar Rock by 0.3% during the first quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock valued at $114,012,000 after acquiring an additional 17,105 shares during the last quarter. 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 valued at $52,739,000 after acquiring an additional 114,550 shares during the last quarter. Finally, Bellevue Group AG increased its position in shares of Scholar Rock by 1.5% during the fourth quarter. Bellevue Group AG now owns 2,168,925 shares of the company’s stock valued at $40,776,000 after acquiring an additional 31,000 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.