Scholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report)’s stock price traded down 5.1% during mid-day trading on Monday. The company traded as low as $44.59 and last traded at $44.4380. Approximately 908,652 shares were traded during trading, a decline of 36% from the average session volume of 1,414,143 shares. The stock had previously closed at $46.81.
Analysts Set New Price Targets
SRRK has been the subject of a number of research reports. Barclays cut Scholar Rock from an “overweight” rating to a “cautious” rating in a research note on Tuesday, September 15th. Jefferies Financial Group lifted their target price on shares of Scholar Rock from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, September 14th. UBS Group reiterated a “buy” rating on shares of Scholar Rock in a research report on Tuesday, September 15th. TD Cowen reiterated a “buy” rating on shares of Scholar Rock in a research note on Monday, September 14th. Finally, BMO Capital Markets raised their price objective on shares of Scholar Rock from $76.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.
Read Our Latest Stock Analysis on Scholar Rock
Scholar Rock Stock Down 5.0%
Scholar Rock (NASDAQ:SRRK – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.84). During the same quarter in the previous year, the firm earned ($0.98) EPS. As a group, equities analysts predict that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.
Hedge Funds Weigh In On Scholar Rock
A number of institutional investors have recently made changes to their positions in SRRK. Engineers Gate Manager LP boosted its position in Scholar Rock by 211.3% during the second quarter. Engineers Gate Manager LP now owns 23,933 shares of the company’s stock worth $1,316,000 after acquiring an additional 16,245 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Scholar Rock in the 2nd quarter worth about $99,000. Squarepoint Ops LLC lifted its position in Scholar Rock by 484.5% during the second quarter. Squarepoint Ops LLC now owns 291,996 shares of the company’s stock valued at $16,060,000 after buying an additional 242,041 shares in the last quarter. Arizona State Retirement System boosted its position in Scholar Rock by 20.1% during the 2nd quarter. Arizona State Retirement System now owns 20,605 shares of the company’s stock worth $1,133,000 after purchasing an additional 3,442 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Scholar Rock in the second quarter valued at about $215,000. 91.08% of the stock is owned by institutional investors and hedge funds.
About Scholar Rock
Scholar Rock Holding Corporation (NASDAQ: SRRK) is a clinical-stage biopharmaceutical company focused on developing medicines that selectively target the activation of growth factors. The company’s approach is designed to modulate biologic pathways in specific tissues while potentially limiting effects elsewhere in the body.
Scholar Rock’s lead product candidate is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin, a protein that negatively regulates muscle growth.
Featured Articles
- Five stocks we like better than Scholar Rock
- NVIDIA’s Record High Raises a Bigger Question About How Far the Rally Can Run
- A Manufacturing Surprise Could Be a Big Win for These 2 Companies
- What a $1 Billion Chip Deal Says About Amazon’s AI Ambitions
- 3 Stocks Benefiting From AI Demand Just Announced Major Buybacks
Receive News & Ratings for Scholar Rock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholar Rock and related companies with MarketBeat.com's FREE daily email newsletter.
