Zacks Investment Research upgraded shares of Scholar Rock (NASDAQ:SRRK) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “Scholar Rock Holding Corporation is a biopharmaceutical company. It focused on the discovery and development of medicines for treatment of serious diseases. The company’s product candidate includes SRK-015 and BMP6 which is in pre-clinical stage. Scholar Rock Holding Corporation is based in Cambridge, United States. “
Shares of SRRK traded up $0.43 during mid-day trading on Thursday, hitting $23.86. 24,084 shares of the company’s stock were exchanged, compared to its average volume of 62,934. Scholar Rock has a fifty-two week low of $13.09 and a fifty-two week high of $27.02.
Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Wednesday, August 8th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.85). On average, sell-side analysts anticipate that Scholar Rock will post -4.5 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of SRRK. Point72 Asset Management L.P. purchased a new position in Scholar Rock during the second quarter worth about $151,000. TD Asset Management Inc. purchased a new position in Scholar Rock during the second quarter worth about $183,000. Quantitative Systematic Strategies LLC purchased a new position in Scholar Rock during the second quarter worth about $193,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Scholar Rock during the third quarter worth about $214,000. Finally, Laurion Capital Management LP purchased a new position in Scholar Rock during the second quarter worth about $234,000. 48.37% of the stock is owned by hedge funds and other institutional investors.
Scholar Rock Company Profile
Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development of various medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company is developing its lead antibody product candidate, SRK-015, a first-in-class inhibitor of the activation of myostatin that is in clinical development stage for the treatment of spinal muscular atrophy.
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