Scholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $56.59 and last traded at $56.3050, with a volume of 263966 shares traded. The stock had previously closed at $55.36.
Wall Street Analyst Weigh In
SRRK has been the topic of a number of recent research reports. Wedbush lifted their target price on Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. JPMorgan Chase & Co. raised their price objective on Scholar Rock from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research note on Tuesday, April 21st. Barclays raised their target price on Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, HC Wainwright lifted their price target on shares of Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $56.00.
Read Our Latest Stock Analysis on SRRK
Scholar Rock Trading Up 3.7%
Scholar Rock (NASDAQ:SRRK – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same period in the prior year, the business earned ($0.67) earnings per share. Research analysts expect that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.
Insider Buying and Selling at Scholar Rock
In other news, COO Keith Woods sold 10,220 shares of the company’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 $506,605.40. Following the transaction, the chief operating officer directly owned 620,055 shares in the company, valued at approximately $30,736,126.35. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Vikas Sinha sold 10,410 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 transaction of $516,023.70. Following the sale, the chief financial officer directly owned 619,856 shares in the company, valued at $30,726,261.92. This trade represents a 1.65% 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. Insiders have sold 80,640 shares of company stock worth $4,070,357 over the last quarter. Corporate insiders own 13.30% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of SRRK. IFP Advisors Inc increased its stake in shares of Scholar Rock by 294.1% in the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock valued at $27,000 after buying an additional 450 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Scholar Rock during the fourth quarter valued at $30,000. Summit Securities Group LLC bought a new position in Scholar Rock in the fourth quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its position in Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after purchasing an additional 525 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new stake in Scholar Rock in the fourth quarter worth about $44,000. 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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