Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Scholar Rock Holding Corp shares valued at $182,842 were sold by Backstrom Jay T. on Feb 16 ’24. At $15.74 per share, Backstrom Jay T. sold 11,614 shares. The insider’s holdings dropped to 352,671 shares worth approximately $4.92 million following the completion of this transaction.
Also, Myles Edward H sold 4,744 shares, netting a total of over 74,686 in proceeds. Following the sale of shares at $15.74 each, the insider now holds 210,976 shares.
Before that, Parlavecchio Caryn had sold 3,751 shares from its account. In a trade valued at $59,053, the CHRO traded Scholar Rock Holding Corp shares for $15.74 each. Upon closing the transaction, the insider’s holdings decreased to 3,751 shares, worth approximately $2.2 million.
As published in their initiating research note from Raymond James on March 28, 2024, Scholar Rock Holding Corp [SRRK] has been a Strong buy and the price target has been revised to $30. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late October.
Analyzing SRRK Stock Performance
During the last five days, there has been a surge of approximately 0.07%. Over the course of the year, Scholar Rock Holding Corp shares have dropped approximately -25.74%. Shares of the company reached a 52-week high of $18.89 on 01/02/24 and a 52-week low of $12.81 on 03/19/24. A 50-day SMA is recorded $15.28, while a 200-day SMA reached $11.98. Nevertheless, trading volume fell to 0.94 million shares from 0.75 million shares the previous day.
Support And Resistance Levels for Scholar Rock Holding Corp (SRRK)
According to the 24-hour chart, there is a support level at 13.65, which, if violated, would cause prices to drop to 13.34. In the upper region, resistance lies at 14.22. The next price resistance is at 14.48. RSI (Relative Strength Index) is 45.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.23, which suggests the price will decrease in the coming days. Percent R is at 57.92%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
