The stock of Scholar Rock Holding Corporation (NASDAQ:SRRK) decreased by -$0.08 on Tuesday to $7.04, down -1.14 percent. The last five days have seen an average of 562,991 shares of common stock traded. 6 times new highs were reached in the current year, with a fall of -$1.99. The average number of shares traded over the last 20 days was 306,883, while the average volume over the last 50 days totaled 387,211.
SRRK stock dropped -2.65% since last month. On 08/09/23, the company’s shares reached a one-month low of $6.02. The stock touched a high of $13.00 on 01/25/23, after rallying from a low of $5.56 in 52 weeks. The price of SRRK stock has declined by -22.23% or -$1.99 this year, reaching a new high 6 times. Still, the stock price is down -45.86% from the 52-week high.
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Insider Transactions
SRRK stock investors should be aware that Scholar Rock Holding Corporation (SRRK) stock had its last reported insider trading activity 109 days ago on Apr 28. On Apr 28, 10% Owner Invus Public Equities, L.P. acquired 31,557 shares at $6.43 each. This transaction resulted in the insider spending $202,845. On Jan 09, Invus Public Equities, L.P. sold 1,094 shares at a price of US$9.48. After the transaction, the insider now owns 9,027,950 shares. 10% Owner Invus Public Equities, L.P. had earlier bought 48,774 shares on Jan 05 for $9.33 a share. The transaction was completed for $455,091.
Financial Health
For the three months ended June 29, Scholar Rock Holding Corporation’s quick ratio was 10.70, while its current ratio was 10.70, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.25, and the total debt to equity ratio is 0.25. Based on annual data, it had gross profit of $167.56 million and revenue of $33.19 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SRRK’s return on assets (ROA) during the last 12 months has been -47.40%. There was a -43.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -64.90%.
Earnings Surprise
According to Scholar Rock Holding Corporation’s quarterly financial report for the quarter that ended June 29, it had $49.9 million in total debt versus $140.67 million in cash and short-term investments. It was predicted that Scholar Rock Holding Corporation’s quarterly earnings would be -$0.47, but it ended up being -$0.55, beating the consensus by 14.50%. At the end of Scholar Rock Holding Corporation’s most recent quarter ended June 29, its liabilities totaled 82.4 million, while its total debt was $65.41 million. Equity owned by shareholders amounts to $56.23 million.
Technical Picture
Here’s a quick look at Scholar Rock Holding Corporation’s (SRRK) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 53.94%, suggesting the stock is Neutral, with a 87.55% historical volatility rate.
The stochastic %K and %D were 68.61% and 57.14% respectively, while the average true range (ATR) was 0.51. Based on the 14-day stochastic reading of 67.53%, the RSI (14) reading is 51.01%. On the 9-day MACD Oscillator, the stock is at 0.28, and the 14-day reading is at 0.20.
Analyst Ratings
Analysts have assigned Scholar Rock Holding Corporation (SRRK) an Buy rating. SRRK is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 7 others recommend it as a buy.
What is SRRK’s price target for the next 12 months?
The current consensus forecast for the stock is between $7.00 and $30.00, with a median target price of $24.00. In analyzing these forecasts, the average price target given by analysts for Scholar Rock Holding Corporation (SRRK) is $22.00.
