Key Points
- Scholar Rock director Joshua Reed sold 3,053 shares on July 1 at an average price of $53.74, totaling about $164,068. The sale reduced his direct holdings by 13.53% and was made to cover tax withholding tied to vested equity awards.
- The stock recently traded near its 52-week high, opening at $55.36 versus a 52-week range of $27.07 to $56.54. Scholar Rock also has a market cap of about $6.63 billion and a beta of 0.67.
- Analysts remain largely positive on the biotech company, with a consensus Buy rating and an average price target of $56.00. Institutional ownership is high, with hedge funds and other institutions holding about 91.08% of the shares.
Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) Director Michael Gilman sold 2,544 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.87, for a total value of $137,045.28. Following the completion of the transaction, the director owned 59,511 shares of the company's stock, valued at approximately $3,205,857.57. This represents a 4.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Scholar Rock Trading Up 0.1%
NASDAQ:SRRK opened at $55.40 on Tuesday. Scholar Rock Holding Corporation has a 52-week low of $27.07 and a 52-week high of $56.54. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $48.59 and a 200-day simple moving average of $46.67. The company has a market capitalization of $6.64 billion, a PE ratio of -15.44 and a beta of 0.67.
Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued 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 quarter in the previous year, the business earned ($0.67) EPS. On average, equities research analysts expect that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.
Institutional Trading of Scholar Rock
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in shares of Scholar Rock by 294.1% during the 4th quarter. IFP Advisors Inc now owns 603 shares of the company's stock valued at $27,000 after acquiring an additional 450 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Scholar Rock during the 4th quarter worth about $30,000. Summit Securities Group LLC acquired a new stake in shares of Scholar Rock in the fourth quarter worth approximately $31,000. Ramirez Asset Management Inc. acquired a new stake in shares of Scholar Rock in the third quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company's stock valued at $38,000 after purchasing an additional 525 shares during the period. Hedge funds and other institutional investors own 91.08% of the company's stock.
Analyst Upgrades and Downgrades
SRRK has been the topic of several recent research reports. HC Wainwright upped their price objective on Scholar Rock from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Scholar Rock in a research note on Tuesday, April 21st. Barclays upped their target price on shares of Scholar Rock from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Canaccord Genuity Group started coverage on shares of Scholar Rock in a research note on Monday, April 20th. They set a "buy" rating and a $62.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Scholar Rock from $47.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, March 16th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Scholar Rock presently has a consensus rating of "Buy" and an average target price of $56.00.
Read Our Latest Stock Analysis on Scholar Rock
About Scholar Rock
(
Get Free Report)
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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