Scholar Rock (NASDAQ:SRRK) Hits New 52-Week High After Analyst Upgrade

Scholar Rock Holding Corporation (NASDAQ:SRRK) hit a new 52-week high during trading on Wednesday after Wedbush raised their price target on the stock from $56.00 to $58.00. Wedbush currently has an outperform rating on the stock. Scholar Rock traded as high as $50.50 and last traded at $49.16, with a volume of 5327282 shares. The stock had previously closed at $43.08.

SRRK has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research report on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $58.00 target price on shares of Scholar Rock in a research note on Tuesday, March 3rd. Barclays boosted their price target on shares of Scholar Rock from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Citigroup upped their price target on shares of Scholar Rock from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a research report on Thursday, December 11th. Four equities research 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $54.93.

Insider Buying and Selling

In other Scholar Rock news, CFO Vikas Sinha sold 16,755 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $42.70, for a total value of $715,438.50. Following the completion of the transaction, the chief financial officer owned 583,245 shares of the company’s stock, valued at $24,904,561.50. The trade was a 2.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Akshay Vaishnaw sold 20,438 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $42.70, for a total transaction of $872,702.60. Following the completion of the transaction, the insider directly owned 595,767 shares in the company, valued at $25,439,250.90. The trade was a 3.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 207,464 shares of company stock valued at $9,157,423 in the last 90 days. 13.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Scholar Rock

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Scholar Rock by 161.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 713,988 shares of the company’s stock valued at $26,589,000 after purchasing an additional 440,401 shares during the last quarter. Moody Aldrich Partners LLC raised its holdings in shares of Scholar Rock by 53.5% during the 3rd quarter. Moody Aldrich Partners LLC now owns 101,742 shares of the company’s stock valued at $3,789,000 after buying an additional 35,481 shares in the last quarter. Norges Bank bought a new stake in Scholar Rock in the 2nd quarter worth approximately $41,628,000. Voya Investment Management LLC boosted its stake in Scholar Rock by 18.1% in the third quarter. Voya Investment Management LLC now owns 443,155 shares of the company’s stock worth $16,503,000 after buying an additional 67,839 shares in the last quarter. Finally, HighVista Strategies LLC boosted its stake in Scholar Rock by 90.8% in the third quarter. HighVista Strategies LLC now owns 59,573 shares of the company’s stock worth $2,218,000 after buying an additional 28,343 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Price Performance

The firm has a market capitalization of $5.75 billion, a P/E ratio of -14.58 and a beta of 0.68. The business’s 50-day simple moving average is $45.22 and its 200 day simple moving average is $40.75. The company has a quick ratio of 6.95, a current ratio of 6.95 and a debt-to-equity ratio of 0.41.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.10. During the same quarter in the prior year, the business earned ($0.64) earnings per share. Sell-side analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Scholar Rock Company Profile

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).