Credit Suisse launched its Scholar Rock Holding [SRRK] rating to the equivalent of Outperform and assigned the price target of $65.0, in a research note dated 2021-01-11. That figure represents around a 41.43% premium from where the company’s shares closed on Friday. Some new analysts also started their coverage, with Robert W. Baird’s analysts assigning the shares to “an Outperform” rating in a research note to investors issued in mid March.
Is Scholar Rock Holding Corporation [NASDAQ:SRRK] a Good Buy Right Now?
It should be noted that SRRK technical indicators for short, intermediate as well as long term progress have placed an overall average of 80% as Buy. The average signal changed from 96% Buy in the last week and compares with 100% Buy in the past month. Data from Scholar Rock Holding Corporation’s Trend Spotter indicated that the signals were Bearish. The stock current average is 0.28 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 1.69 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.44 million shares.
SRRK Price Performance
On Wall Street, Scholar Rock Holding Corporation [NASDAQ:SRRK] finished Friday’s session down -2.63% at $45.96. The stock went up to $48.43 at the same session while its lowest single day price was $44.365. In the last five days, it saw a fall of about -5.30%, Scholar Rock Holding Corporation shares dropped by almost -5.30% since the beginning of the year. However, the share price has dropped to as low as -16.68% below its one year high. On 01/07/21, the company shares recorded $50.27, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/08/21, the same year at $44.37. The company’s shares have inclined by 256.83% in the past year. The 50-day SMA achieved is $45.30 while the 200-day SMA is $23.19. Volume dropped to 0.17 million from 0.24 million in the previous session.
SRRK Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 44.07 level, and in case of violation of this particular level, it will cause more drop to 42.19 level. On the upper level, 50.32 is still the key resistance. The stock may increase to the subsequent resistance at 48.14. The Relative Strength Index (RSI) pinned on the 14-day chart is 48.52, implying a neutral technical stance while the MACD stands at -1.63, meaning price will decrease in the next trading period. Percent R indicator moved to 85.23%, implying bearish price movement. Stochastic %K at 20.13% suggest selling the stock.
What is the short interest in Scholar Rock Holding Corporation?
Short interest in the Scholar Rock Holding Corporation stock has plunged, decreasing by -0.4 million shares to total 1.64 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.24 million, data from Yahoo Finance shows. The increase of 24.39% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 8.41% of the overall float for the stock.
Scholar Rock Holding Corporation’s Biggest Shareholders: Who Owns Scholar Rock Holding Corporation [SRRK]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 4,481,203 shares or roughly 13.32% of the outstanding SRRK shares. This means their shares have reduced by 119 from the 4,481,203 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, T. Rowe Price Associates, Inc. updated stake is worth $199,290,711. Details in the latest 13F filings reveal that Redmile Group LLC acquired their 0.87% stake valued at $144,522,290 while Bellevue Asset Management AG added theirs at $141,614,097. During the last quarter, Redmile Group LLC raised 25,000 of its shares in Scholar Rock Holding Corporation while Bellevue Asset Management AG bought 96,409 shares. The Invus Public Equities Advisors LL’s holdings currently number 2,495,140 shares at $114676634.4. According to the firm’s last 13F report, BlackRock Fund Advisors shares in the company at filing stood at 1,550,187 shares, roughly $77,230,316.
SRRK Earnings Forecast For The Current Quarter
Scholar Rock Holding Corporation [SRRK] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $7.21M and an earnings per share of -$0.61 for Dec 2020. Looking further ahead, the company is expected to report revenue of $6.12M at an EPS of -$0.62 for Mar 2021. The estimates represent downside of 82.40% and 2.70% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SRRK Earnings Estimates For The Current Year
For the financial year, Scholar Rock Holding Corporation [NASDAQ:SRRK] is expected to bring in revenue of $19.17M. The returns are nearly $-1.32 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -2.62, lower than that of FY19 by -$0.77. Estimates put this year’s earnings growth at -41.60%, 2.70% for the next. As for sales, forecasts are for a decrease of -6.40% in the current fiscal year and a further 82.40% over the following year.