Stock Traders Buy High Volume of Put Options on Scholar Rock (NASDAQ:SRRK)

Scholar Rock Holding Corporation (NASDAQ:SRRK) was the target of some unusual options trading activity on Monday. Stock investors acquired 12,415 put options on the stock. This is an increase of approximately 421% compared to the average volume of 2,383 put options.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SRRK shares. Jefferies Financial Group started coverage on shares of Scholar Rock in a research report on Thursday, August 21st. They issued a “buy” rating and a $50.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Scholar Rock in a research report on Thursday, July 17th. They issued an “overweight” rating on the stock. HC Wainwright reduced their price target on shares of Scholar Rock from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, September 23rd. Raymond James Financial set a $53.00 price target on shares of Scholar Rock and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. Finally, Piper Sandler reduced their price target on shares of Scholar Rock from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $48.60.

Insider Activity

In other Scholar Rock news, Director Jeffrey S. Flier sold 11,136 shares of Scholar Rock stock in a transaction that occurred on Wednesday, July 16th. The shares were 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 of the company’s stock, valued at $963,281.40. The trade was a 31.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Srinivas Akkaraju purchased 387,414 shares of the stock in a transaction on Friday, October 3rd. The shares were purchased at an average cost of $37.27 per share, for a total transaction of $14,438,919.78. Following the acquisition, the director directly owned 387,414 shares of the company’s stock, valued at approximately $14,438,919.78. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 18,673 shares of company stock worth $687,751 over the last ninety days. Company insiders own 13.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SRRK. CWM LLC grew its holdings in shares of Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company’s stock worth $32,000 after purchasing an additional 602 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Scholar Rock in the first quarter worth about $71,000. GF Fund Management CO. LTD. grew its holdings in shares of Scholar Rock by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock worth $77,000 after purchasing an additional 430 shares during the last quarter. Strs Ohio purchased a new stake in Scholar Rock in the first quarter worth about $77,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Scholar Rock in the second quarter worth about $94,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Trading Down 13.1%

SRRK stock opened at $34.28 on Tuesday. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock has a twelve month low of $22.71 and a twelve month high of $46.98. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -11.78 and a beta of 0.42. The firm’s fifty day simple moving average is $34.00 and its two-hundred day simple moving average is $33.38.

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

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.