Scholar Rock Holding Corp’s recent filing unveils that its CHIEF EXECUTIVE OFFICER Backstrom Jay T. unloaded Company’s shares for reported $0.18 million on Feb 16 ’24. In the deal valued at $15.74 per share,11,614 shares were sold. As a result of this transaction, Backstrom Jay T. now holds 352,671 shares worth roughly $5.23 million.
Then, Myles Edward H sold 4,744 shares, generating $74,686 in total proceeds. Upon selling the shares at $15.74, the COO & CFO now owns 210,976 shares.
Before that, Parlavecchio Caryn sold 3,751 shares. Scholar Rock Holding Corp shares valued at $59,053 were divested by the CHRO at a price of $15.74 per share. As a result of the transaction, Parlavecchio Caryn now holds 157,744 shares, worth roughly $2.34 million.
Raymond James initiated its Scholar Rock Holding Corp [SRRK] rating to a Strong buy in a research note published on March 28, 2024; the price target was $30. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in late October from “a Hold” to “a Buy”.
Price Performance Review of SRRK
On Tuesday, Scholar Rock Holding Corp [NASDAQ:SRRK] saw its stock jump 2.21% to $14.82. Over the last five days, the stock has lost -5.73%. Scholar Rock Holding Corp shares have fallen nearly -21.17% since the year began. Nevertheless, the stocks have risen 88.79% over the past one year. While a 52-week high of $21.17 was reached on 01/02/24, a 52-week low of $5.56 was recorded on 03/19/24. SMA at 50 days reached $15.59, while 200 days put it at $11.60. A total of 0.35 million shares were traded, compared to the trading of 0.56 million shares in the previous session.
Levels Of Support And Resistance For SRRK Stock
The 24-hour chart illustrates a support level at 14.49, which if violated will result in even more drops to 14.15. On the upside, there is a resistance level at 15.01. A further resistance level may holdings at 15.19. The Relative Strength Index (RSI) on the 14-day chart is 46.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.62%. Stochastics %K at 28.87% indicates the stock is a holding.
How much short interest is there in Scholar Rock Holding Corp?
A steep rise in short interest was recorded in Scholar Rock Holding Corp stocks on Mar 15, 2024, dropping by -0.84 million shares to a total of 10.54 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 11.38 million shares. There was a decline of -7.97%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 25.11% of the overall stock float, the days-to-cover ratio (short ratio) fell to 11.1.
The most recent change occurred on July 12, 2022 when Truist began covering the stock and recommended ‘”a Buy”‘ rating along with a $20 price target.
