Scholar Rock (NASDAQ:SRRK) Shares Up 7.9%
Shares of Scholar Rock Holding Corp (NASDAQ:SRRK) shot up 7.9% during mid-day trading on Thursday . The stock traded as high as $11.62 and last traded at $11.37, 113,412 shares changed hands during mid-day trading. An increase of 2% from the average session volume of 111,056 shares. The stock had previously closed at $10.54.
Several research firms recently issued reports on SRRK. BidaskClub cut Scholar Rock from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 21st. BMO Capital Markets reaffirmed a “buy” rating and issued a $33.00 target price on shares of Scholar Rock in a report on Monday, June 29th. Finally, Zacks Investment Research lowered Scholar Rock from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Scholar Rock currently has an average rating of “Buy” and an average target price of $28.33.
The company’s fifty day simple moving average is $15.97 and its 200-day simple moving average is $15.15. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 0.04.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in shares of Scholar Rock during the first quarter worth $26,000. BNP Paribas Arbitrage SA lifted its position in shares of Scholar Rock by 162.4% during the first quarter. BNP Paribas Arbitrage SA now owns 5,458 shares of the company’s stock worth $66,000 after purchasing an additional 3,378 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new position in shares of Scholar Rock during the first quarter worth $108,000. Citigroup Inc. lifted its position in shares of Scholar Rock by 18.9% during the first quarter. Citigroup Inc. now owns 6,988 shares of the company’s stock worth $85,000 after purchasing an additional 1,113 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Scholar Rock during the first quarter worth $105,000. 63.10% of the stock is currently owned by institutional investors and hedge funds.
Scholar Rock Company Profile (NASDAQ:SRRK)
Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. Its lead antibody product candidate is SRK-015, an inhibitor of the activation of myostatin, which is in Phase I clinical trials for the treatment of spinal muscular atrophy.
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