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

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) reached a new 52-week high on Wednesday . The company traded as high as $52.39 and last traded at $52.2890, with a volume of 319049 shares. The stock had previously closed at $51.27.

Analysts Set New Price Targets

SRRK has been the topic of a number of research reports. Raymond James Financial restated a “strong-buy” rating on shares of Scholar Rock in a research report on Tuesday, March 3rd. 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. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a report on Tuesday, April 21st. Canaccord Genuity Group assumed coverage on shares of Scholar Rock in a report on Monday, April 20th. They set a “buy” rating and a $62.00 target price for the company. Finally, HC Wainwright increased their price target on Scholar Rock from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and an average price target of $56.00.

Scholar Rock Stock Up 3.5%

The firm has a market cap of $6.36 billion, a P/E ratio of -14.84 and a beta of 0.69. The firm’s 50 day moving average is $47.59 and its two-hundred day moving average is $46.10. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.71.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same quarter in the previous year, the company earned ($0.67) EPS. As a group, research analysts anticipate that Scholar Rock Holding Corporation will post -3.23 EPS for the current fiscal year.

Insider Activity

In related news, CEO David Hallal sold 30,615 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total value of $1,517,585.55. Following the completion of the sale, the chief executive officer owned 1,639,034 shares in the company, valued at $81,246,915.38. This represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Akshay Vaishnaw sold 12,246 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $607,034.22. Following the sale, the insider directly owned 630,542 shares in the company, valued at $31,255,966.94. The trade was a 1.91% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 63,491 shares of company stock worth $3,147,249 over the last quarter. Corporate insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Large investors have recently modified their holdings of the business. IFP Advisors Inc raised its position in shares of Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after purchasing an additional 450 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Scholar Rock in the 4th quarter valued at approximately $30,000. Summit Securities Group LLC bought a new stake in Scholar Rock during the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC raised its holdings in Scholar Rock by 151.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after buying an additional 525 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new stake in Scholar Rock during the 4th quarter worth approximately $44,000. 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).