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Scholar Rock Holding Corp [SRRK] COO & CFO makes an insider sale of 9,458 shares worth 84,978.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Scholar Rock Holding Corp shares valued at $84,978 were sold by Myles Edward H on Jun 17 ’24. At $8.98 per share, Myles Edward H sold 9,458 shares. The insider’s holdings dropped to 201,518 shares worth approximately $1.67 million following the completion of this transaction.

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Also, Ho Junlin sold 4,695 shares, netting a total of over 42,183 in proceeds. Following the sale of shares at $8.98 each, the insider now holds 204,076 shares.

Before that, Parlavecchio Caryn had sold 4,305 shares from its account. In a trade valued at $38,680, the CHRO traded Scholar Rock Holding Corp shares for $8.98 each. Upon closing the transaction, the insider’s holdings decreased to 4,305 shares, worth approximately $1.27 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 drop of approximately -11.61%. Over the course of the year, Scholar Rock Holding Corp shares have dropped approximately -55.85%. Shares of the company reached a 52-week high of $18.89 on 01/02/24 and a 52-week low of $7.95 on 06/20/24. A 50-day SMA is recorded $12.30, while a 200-day SMA reached $12.94. Nevertheless, trading volume fell to 1.38 million shares from 1.51 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 8.01, which, if violated, would cause prices to drop to 7.72. In the upper region, resistance lies at 8.53. The next price resistance is at 8.76. RSI (Relative Strength Index) is 22.52 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.81, which suggests the price will decrease in the coming days. Percent R is at 84.58%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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