In the last trading session, 2,040,785 shares of the Scholar Rock Holding Corporation (NASDAQ:SRRK) were traded, and its beta was 0. Most recently the company’s share price was $35.97, and it changed around -$9.16 or -0.2% from the last close, which brings the market valuation of the company to $1.23 Billion. SRRK currently trades at a discount to its 52-week high of $70, offering almost -94.61% off that amount. The share price’s 52-week low was $10.28, which indicates that the current value has risen by an impressive 71.42% since then. We note from Scholar Rock Holding Corporation’s average daily trading volume that its 10-day average is 333.02 Million shares, with the 3-month average coming to 250.79 Million.
Scholar Rock Holding Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.7. If we narrow it down even further, the data shows that none out of 6 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended SRRK as a Hold, whereas 6 deemed it a Buy, and no one rated it as Underweight. Scholar Rock Holding Corporation is expected to report earnings per share of -$0.7 for the current quarter.
Scholar Rock Holding Corporation (NASDAQ:SRRK): Trading Information
Although SRRK has showed a red trend with a performance of -20.3% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $52.38 on Wednesday, Mar 31 increased the stock’s daily price by 31.33%. The company’s shares are currently down -0.26% year-to-date, but still down -0.253 over the last five days. On the other hand, Scholar Rock Holding Corporation (NASDAQ:SRRK) is -0.33% down in the 30-day period. We can see from the shorts that 1.47 Million shares have been sold at a short interest cover period of 0.01 day (s).
The consensus price target as assigned by Wall Street analysts is $67.4, which translates to bears needing to increase their stock price by 87.38% from its current value. Analyst projections state that SRRK is forecast to be at a low of $59 and a high of $79. In order for the stock price to hit the forecast high, the stock would need to surge +119.63% from its current level, while the stock would need to crash 64.03% from its current level to reach the projected low.
Scholar Rock Holding Corporation (SRRK) projections and forecasts
Scholar Rock Holding Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +133.72 percent over the past six months and at a -7.83% annual growth rate that is well below the industry average of 8.2%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -20.7% in revenue this quarter, and will report a decline of -12.3% in the next quarter. The year-over-year growth rate is expected to be 91.4%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $5.8 Million in revenue for the current quarter. 5 analysts expect Scholar Rock Holding Corporation to make $5.8 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $5.03 Million and $3.9 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 15.3%. Forecasts for the next quarter put sales growth at 48.7%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Scholar Rock Holding Corporation earnings are expected to decrease by -51.9% in 2021, but the outlook is negative 0% per year for the next five years.
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Scholar Rock Holding Corporation (NASDAQ:SRRK)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 5.27% of Scholar Rock Holding Corporation shares, and 96.02% of them are in the hands of institutional investors. The stock currently has a share float of 101.36%. Scholar Rock Holding Corporation stock is held by 173 institutions, with FMR, LLC being the largest institutional investor. By Dec 30, 2020, it held 14.73% of the shares, which is about 5.05 Million shares worth $244.87 Million.
Price (T.Rowe) Associates Inc, with 11.66% or 4Million shares worth $193.95 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Fidelity Select Portfolios – Biotechnology and Fidelity Growth Company Fund were the top two Mutual Funds as of Feb 27, 2021. The former held 1543247 shares worth $83.49 Million, making up 4.5% of all outstanding shares. On the other hand, Fidelity Growth Company Fund held roughly 1.12 Million shares worth around $60.42 Million, which represents about 3.26% of the total shares outstanding.