Scholar Rock (NASDAQ:SRRK) Trading Up 5.8% – Still a Buy?

Scholar Rock Holding Co. (NASDAQ:SRRK) shot up 5.8% on Tuesday . The company traded as high as $31.06 and last traded at $30.61. 107,710 shares changed hands during trading, a decline of 91% from the average session volume of 1,217,614 shares. The stock had previously closed at $28.93.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research report on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $42.67.

Scholar Rock Trading Up 5.5 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a market cap of $2.89 billion, a PE ratio of -12.98 and a beta of 0.56. The company has a 50 day simple moving average of $33.95 and a two-hundred day simple moving average of $34.83.

Insider Buying and Selling at Scholar Rock

In related news, insider Tracey Sacco sold 6,500 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $33.08, for a total transaction of $215,020.00. Following the sale, the insider now owns 71,750 shares in the company, valued at approximately $2,373,490. This trade represents a 8.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.42, for a total transaction of $34,626.52. Following the completion of the transaction, the director now owns 30,319 shares of the company’s stock, valued at approximately $1,043,579.98. This trade represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 299,772 shares of company stock worth $11,245,798. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the period. Global Retirement Partners LLC lifted its holdings in Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Scholar Rock during the fourth quarter worth about $85,000. Finally, Amalgamated Bank raised its position in shares of Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

About Scholar Rock

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.