Scholar Rock Holding Co. (NASDAQ:SRRK – Get Free Report)’s stock price traded down 4.3% on Monday . The company traded as low as $8.99 and last traded at $8.99. 243,377 shares traded hands during trading, a decline of 70% from the average session volume of 802,069 shares. The stock had previously closed at $9.39.
Wall Street Analysts Forecast Growth
SRRK has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a research note on Thursday, August 8th. BMO Capital Markets upped their price objective on Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, June 25th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $26.43.
View Our Latest Stock Analysis on Scholar Rock
Scholar Rock Stock Performance
Scholar Rock (NASDAQ:SRRK – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same period last year, the firm earned ($0.47) earnings per share. As a group, analysts predict that Scholar Rock Holding Co. will post -2.39 earnings per share for the current fiscal year.
Institutional Trading of Scholar Rock
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new position in Scholar Rock in the second quarter valued at about $103,000. Clearbridge Investments LLC purchased a new position in Scholar Rock in the 2nd quarter valued at approximately $6,223,000. Algert Global LLC raised its holdings in Scholar Rock by 34.7% during the second quarter. Algert Global LLC now owns 16,695 shares of the company’s stock worth $139,000 after purchasing an additional 4,305 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Scholar Rock by 30.7% during the second quarter. The Manufacturers Life Insurance Company now owns 222,800 shares of the company’s stock worth $1,856,000 after purchasing an additional 52,329 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Scholar Rock by 159.2% in the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after purchasing an additional 568,512 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.
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.
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