Invus Public Equities Advisors LL recently announced the acquisition of new stake in Scholar Rock Holding Corporation (NASDAQ:SRRK). The institutional investor has increased its shareholding in the Healthcare company by 2.63% to 8.98 million shares with purchase of 0.23 million shares. This fresh investment now brings its stake to 17.38% valued currently at $69.78 million. In addition, Fidelity Management & Research Co raised its holdings by 1994.0 to 7.31 million shares.
With over 0.87 million Scholar Rock Holding Corporation (SRRK) shares trading Tuesday and a closing price of $9.95 on the day, the dollar volume was approximately $8.7 million. The shares have shown a positive half year performance of 24.37% and its price on 01/10/23 gained nearly 4.85%. Currently, there are 79.34M common shares owned by the public and among those 50.19M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for SRRK have a consensus price objective of $22.57. The analysts have set the share’s price value over the next 12 months at a high of $32.00 and a low of $10.00. The average price target is 55.91% above its recent price level and an upside to the estimated low will see the stock gain 0.5% over that period. But an upside of 68.91% will see the stock hit the forecast high price target while median target price for the stock is $20.00.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 736,695 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 44,638 shares.
The top 3 mutual fund holders in Scholar Rock Holding Corporation are T Rowe Price New Horizons Fund, BB Biotech AG, and T Rowe Price Health Sciences Fund. T Rowe Price New Horizons Fund owns 3.3 million shares of the company’s stock, all valued at over $25.64 million. The company bought an additional 0.15 million shares recently to bring their total holdings to about 6.39% of the shares outstanding. BB Biotech AG sold -0.14 million shares to see its total holdings shrink to 2.13 million shares valued at over $16.57 million and representing 4.13% of the shares outstanding. T Rowe Price Health Sciences Fund bought 46479.0 shares to bring its total holdings to over 1.73 million shares at a value of $13.43 million. T Rowe Price Health Sciences Fund now owns shares totaling to 3.35% of the shares outstanding.
Shares of Scholar Rock Holding Corporation (NASDAQ: SRRK) opened at $9.79, up $0.3 from a prior closing price of $9.49. However, the script later moved the day high at 10.60, up 4.85%. The company’s stock has a 5-day price change of 3.86% and 30.58% over the past three months. SRRK shares are trading 9.94% year to date (YTD), with the 12-month market performance down to -53.53% lower. It has a 12-month low price of $4.32 and touched a high of $22.92 over the same period. SRRK has an average intraday trading volume of 215.55K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.89%, 19.19%, and 23.30% respectively.
Institutional ownership of Scholar Rock Holding Corporation (NASDAQ: SRRK) shares accounts for 98.70% of the company’s 79.34M shares outstanding. Mutual fund holders own 38.47%, while other institutional holders and individual stakeholders account for 45.10% and 37.70% respectively.
It has a market capitalization of $516.21M and a beta (3y monthly) value of 0.63. The earnings-per-share (ttm) stands at -$2.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.91% over the week and 8.04% over the month.
Analysts forecast that Scholar Rock Holding Corporation (SRRK) will achieve an EPS of -$0.69 for the current quarter, -$0.63 for the next quarter and -$2.8 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.87 while analysts give the company a high EPS estimate of -$0.43. Comparatively, EPS for the current quarter was -$1.02 a year ago. Earnings per share for the fiscal year are expected to decrease by -27.60%, and 1.30% over the next financial year.
Looking at the support for the SRRK, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on September 19, 2022, with the firm’s price target at $30. Truist coverage for the Scholar Rock Holding Corporation (SRRK) stock in a research note released on July 12, 2022 offered a Buy rating with a price target of $20. H.C. Wainwright was of a view on March 23, 2022 that the stock is Buy, while Jefferies gave the stock Hold rating on December 22, 2021, issuing a price target of $52- $28. Piper Sandler on their part issued Overweight rating on November 19, 2021.