Scholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report) was up 2.8% on Wednesday. The stock traded as high as $43.35 and last traded at $43.6550. 77,815 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,422,076 shares. The stock had previously closed at $42.45.
Analyst Upgrades and Downgrades
Several research firms have weighed in on SRRK. UBS Group restated a “buy” rating on shares of Scholar Rock in a research report on Tuesday, September 15th. Piper Sandler boosted their price objective on shares of Scholar Rock from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Raymond James Financial increased their price objective on Scholar Rock from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, September 14th. Finally, Barclays downgraded Scholar Rock from an “overweight” rating to a “cautious” rating in a research report on Tuesday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, eleven have given 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 an average rating of “Moderate Buy” and a consensus target price of $66.75.
View Our Latest Analysis on SRRK
Scholar Rock Stock Up 2.8%
Scholar Rock (NASDAQ:SRRK – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, meeting the consensus estimate of ($0.84). During the same quarter last year, the firm posted ($0.98) earnings per share. On average, equities research analysts expect that Scholar Rock Holding Corporation will post -3.23 EPS for the current fiscal year.
Hedge Funds Weigh In On Scholar Rock
A number of large investors have recently bought and sold shares of SRRK. Allworth Financial LP acquired a new stake in Scholar Rock in the 2nd quarter valued at $35,000. Hilton Head Capital Partners LLC acquired a new position in Scholar Rock during the fourth quarter valued at approximately $44,000. PNC Financial Services Group Inc. grew its stake in Scholar Rock by 92.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the company’s stock valued at $62,000 after purchasing an additional 610 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Scholar Rock by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock worth $77,000 after purchasing an additional 242 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Scholar Rock in the second quarter valued at $99,000. Institutional investors and hedge funds own 91.08% of the company’s stock.
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.
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