Scholar Rock Holding Corp (NASDAQ:SRRK) price on Friday, October 25, rose 3.10% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $29.91.
A look at the stock’s price movement, the close in the last trading session was $29.01, moving within a range at $29.4 and $30.6. The beta value (5-Year monthly) was 0.824. Turning to its 52-week performance, $35.38 and $6.76 were the 52-week high and 52-week low respectively. Overall, SRRK moved 245.78% over the past month.
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Scholar Rock Holding Corp’s market cap currently stands at around $2.70 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-05.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SRRK is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 3 recommend SRRK as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SRRK’s current price about 26.39% and 102.56% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 69.91, while 7-day volatility ratio is 5.13% and 10.49% in the 30-day chart. Further, Scholar Rock Holding Corp (SRRK) has a beta value of 0.76, and an average true range (ATR) of 2.35. Analysts have given the company’s stock an average 52-week price target of $40, forecast between a low of $38 and high of $42. Looking at the price targets, the low is -27.05% off current price level while to achieve the yearly target high, price needs to move -40.42%. Nonetheless, investors will most likely welcome a -33.73% jump to $40 which is the analysts’ median price.
If we refocus on Scholar Rock Holding Corp (NASDAQ:SRRK), historical trading data shows that trading volumes averaged 1.69 over the past 10 days and 1.81 million over the past 3 months. The company’s latest data on shares outstanding shows there are 75.98 million shares.
The 16.83% of Scholar Rock Holding Corp’s shares are in the hands of company insiders while institutional holders own 84.72% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 16.52 million on 2024-09-30, giving us a short ratio of 19.08. The data shows that as of 2024-09-30 short interest in Scholar Rock Holding Corp (SRRK) stood at 4464.0 of shares outstanding, with shares short rising to 15.91 million registered in 2024-08-30. Current price change has pushed the stock 59.10% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SRRK stock continues to rise going into the next quarter.
