Scholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $52.39 and last traded at $52.2890, with a volume of 319049 shares changing hands. The stock had previously closed at $51.27.
Analyst Ratings Changes
A number of brokerages recently issued reports on SRRK. Barclays increased their target price on shares of Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Piper Sandler lifted their target price on shares of Scholar Rock from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. JPMorgan Chase & Co. lifted their price objective on Scholar Rock from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, March 16th. Wedbush raised their target price on Scholar Rock from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Scholar Rock in a research report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Scholar Rock presently has an average rating of “Buy” and a consensus price target of $56.00.
View Our Latest Research Report on SRRK
Scholar Rock Price Performance
Scholar Rock (NASDAQ:SRRK – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same quarter last year, the business earned ($0.67) earnings per share. As a group, equities research analysts forecast that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.
Insider Buying and Selling at Scholar Rock
In related news, CEO David Hallal sold 30,615 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total value of $1,517,585.55. Following the transaction, the chief executive officer directly owned 1,639,034 shares in the company, valued at $81,246,915.38. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Akshay Vaishnaw sold 12,246 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $607,034.22. Following the completion of the transaction, the insider directly owned 630,542 shares in the company, valued at approximately $31,255,966.94. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 63,491 shares of company stock valued at $3,147,249. 13.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Siren L.L.C. increased its holdings in Scholar Rock by 17.0% in the fourth quarter. Siren L.L.C. now owns 10,825,013 shares of the company’s stock valued at $476,842,000 after purchasing an additional 1,575,008 shares during the last quarter. Redmile Group LLC grew its position in shares of Scholar Rock by 73.7% during the 1st quarter. Redmile Group LLC now owns 9,066,621 shares of the company’s stock worth $445,715,000 after buying an additional 3,845,775 shares during the period. Wellington Management Group LLP increased its stake in shares of Scholar Rock by 26.7% in the 4th quarter. Wellington Management Group LLP now owns 5,759,428 shares of the company’s stock valued at $253,703,000 after acquiring an additional 1,213,541 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Scholar Rock by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 5,195,465 shares of the company’s stock valued at $228,860,000 after acquiring an additional 280,538 shares during the last quarter. Finally, State Street Corp raised its position in shares of Scholar Rock by 7.2% in the 4th quarter. State Street Corp now owns 4,034,434 shares of the company’s stock valued at $177,717,000 after acquiring an additional 271,331 shares during the period. 91.08% of the stock is currently owned by institutional investors.
About Scholar Rock
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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