Scholar Rock Holding Co. (NASDAQ:SRRK – Get Free Report)’s share price dropped 3.2% on Tuesday . The company traded as low as $15.50 and last traded at $15.50. Approximately 78,459 shares changed hands during trading, a decline of 90% from the average daily volume of 801,052 shares. The stock had previously closed at $16.01.
Wall Street Analysts Forecast Growth
SRRK has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a report on Tuesday. Wedbush reiterated an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Tuesday, January 23rd. Raymond James initiated coverage on shares of Scholar Rock in a research report on Thursday. They set a “strong-buy” rating and a $30.00 price objective for the company. Truist Financial restated a “buy” rating and issued a $20.00 price target on shares of Scholar Rock in a research report on Monday. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research report on Tuesday, March 19th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $25.17.
Get Our Latest Report on Scholar Rock
Scholar Rock Stock Performance
Insider Buying and Selling at Scholar Rock
In other Scholar Rock news, SVP Mo Qatanani sold 2,002 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total value of $31,891.86. Following the transaction, the senior vice president now directly owns 78,816 shares of the company’s stock, valued at $1,255,538.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Edward H. Myles sold 12,459 shares of the firm’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $18.83, for a total transaction of $234,602.97. Following the transaction, the chief financial officer now directly owns 168,784 shares of the company’s stock, valued at $3,178,202.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mo Qatanani sold 2,002 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total transaction of $31,891.86. Following the transaction, the senior vice president now directly owns 78,816 shares in the company, valued at $1,255,538.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,303 shares of company stock valued at $769,490. Corporate insiders own 26.20% of the company’s stock.
Institutional Trading of Scholar Rock
A number of large investors have recently added to or reduced their stakes in SRRK. Barclays PLC increased its stake in shares of Scholar Rock by 62.3% in the third quarter. Barclays PLC now owns 32,318 shares of the company’s stock worth $230,000 after purchasing an additional 12,409 shares in the last quarter. Polar Capital Holdings Plc purchased a new position in shares of Scholar Rock in the third quarter worth about $10,664,000. Alps Advisors Inc. increased its stake in shares of Scholar Rock by 4.1% in the third quarter. Alps Advisors Inc. now owns 41,535 shares of the company’s stock worth $295,000 after purchasing an additional 1,628 shares in the last quarter. FMR LLC increased its stake in shares of Scholar Rock by 3.8% in the third quarter. FMR LLC now owns 8,005,654 shares of the company’s stock worth $56,840,000 after purchasing an additional 291,156 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Scholar Rock in the third quarter worth about $153,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.
Scholar Rock Company Profile
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.
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