Scholar Rock (NASDAQ:SRRK) Reaches New 52-Week High – What’s Next?

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $51.63 and last traded at $50.0770, with a volume of 144137 shares. The stock had previously closed at $49.90.

Analyst Ratings Changes

Several analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Scholar Rock from $50.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a research note on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research note on Thursday, January 22nd. Raymond James Financial reiterated a “strong-buy” rating on shares of Scholar Rock in a research note on Tuesday, March 3rd. Finally, Wedbush boosted their price target on shares of Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $54.93.

Scholar Rock Stock Performance

The business’s fifty day moving average price is $45.53 and its two-hundred day moving average price is $41.23. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.95 and a current ratio of 6.95. The stock has a market capitalization of $5.80 billion, a P/E ratio of -14.72 and a beta of 0.68.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results 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 company earned ($0.64) earnings per share. As a group, sell-side analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In other news, General Counsel Junlin Ho sold 9,580 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $46.53, for a total value of $445,757.40. Following the sale, the general counsel directly owned 241,545 shares in the company, valued at $11,239,088.85. The trade was a 3.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Caryn Parlavecchio sold 9,035 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $46.53, for a total transaction of $420,398.55. Following the completion of the sale, the insider owned 169,087 shares in the company, valued at approximately $7,867,618.11. This trade represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 207,464 shares of company stock valued at $9,157,423. Corporate insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds have recently added to or reduced their stakes in SRRK. Orbis Allan Gray Ltd grew its holdings in Scholar Rock by 1,034.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,428,929 shares of the company’s stock valued at $151,044,000 after purchasing an additional 3,126,677 shares during the last quarter. Wellington Management Group LLP grew its holdings in Scholar Rock by 124.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock valued at $169,289,000 after purchasing an additional 2,521,022 shares during the last quarter. Holocene Advisors LP bought a new position in Scholar Rock during the 3rd quarter valued at about $91,670,000. Norges Bank bought a new position in Scholar Rock during the 4th quarter valued at about $91,603,000. Finally, Siren L.L.C. grew its holdings in Scholar Rock by 17.0% during the 4th quarter. Siren L.L.C. now owns 10,825,013 shares of the company’s stock valued at $476,842,000 after purchasing an additional 1,575,008 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

About Scholar Rock

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).