Scholar Rock Target of Unusually High Options Trading (NASDAQ:SRRK)

Scholar Rock Holding Corporation (NASDAQ:SRRK) saw some unusual options trading on Thursday. Stock traders acquired 7,048 put options on the stock. This is an increase of approximately 313% compared to the typical daily volume of 1,707 put options.

Scholar Rock Trading Up 2.3%

Shares of Scholar Rock stock opened at $34.49 on Friday. The firm has a market cap of $3.32 billion, a PE ratio of -11.85 and a beta of 0.36. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The stock has a fifty day moving average price of $34.16 and a 200-day moving average price of $33.05.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same quarter in the prior year, the company posted ($0.60) EPS. Equities research analysts anticipate that Scholar Rock will post -2.42 EPS for the current year.

Insider Buying and Selling at Scholar Rock

In other news, insider Mo Qatanani sold 24,066 shares of the firm’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total transaction of $828,833.04. Following the completion of the transaction, the insider owned 115,495 shares of the company’s stock, valued at approximately $3,977,647.80. This trade represents a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey S. Flier sold 11,136 shares of Scholar Rock stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $40.02, for a total transaction of $445,662.72. Following the transaction, the director owned 24,070 shares in the company, valued at approximately $963,281.40. This trade represents a 31.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,739 shares of company stock worth $1,516,584. 13.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Scholar Rock

A number of hedge funds have recently modified their holdings of SRRK. Ameriprise Financial Inc. grew its holdings in Scholar Rock by 79.5% during the fourth quarter. Ameriprise Financial Inc. now owns 18,816 shares of the company’s stock valued at $813,000 after purchasing an additional 8,331 shares during the period. Squarepoint Ops LLC bought a new position in shares of Scholar Rock during the 4th quarter worth $873,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Scholar Rock by 42.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company’s stock worth $5,845,000 after acquiring an additional 40,436 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Scholar Rock in the 4th quarter valued at about $212,000. Finally, California State Teachers Retirement System lifted its holdings in Scholar Rock by 30.1% during the fourth quarter. California State Teachers Retirement System now owns 56,269 shares of the company’s stock valued at $2,432,000 after purchasing an additional 13,015 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Lifesci Capital upgraded Scholar Rock to a “strong-buy” rating in a research report on Tuesday, June 3rd. Piper Sandler decreased their price target on Scholar Rock from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday. Wedbush restated an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a report on Wednesday, June 18th. Leerink Partnrs raised Scholar Rock to a “strong-buy” rating in a research note on Monday, September 15th. Finally, Raymond James Financial set a $53.00 target price on shares of Scholar Rock and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $46.40.

About Scholar Rock

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.