The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Scholar Rock Holding Corp shares valued at $1,297,659 were sold by Myles Edward H on Oct 08 ’24. At $34.90 per share, Myles Edward H sold 37,187 shares. The insider’s holdings dropped to 161,088 shares worth approximately $4.21 million following the completion of this transaction.
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Also, Myles Edward H sold 206,240 shares, netting a total of over 5,477,546 in proceeds. Following the sale of shares at $26.56 each, the insider now holds 161,088 shares.
Before that, Sacco Tracey had sold 30,000 shares from its account. In a trade valued at $768,677, the CHIEF COMMERCIAL OFFICER traded Scholar Rock Holding Corp shares for $25.62 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $1.29 million.
As published in a research note from H.C. Wainwright on October 07, 2024, Scholar Rock Holding Corp [SRRK] has been retained to a Buy and the price target has been revised to $35. Analysts at Raymond James started covering the stock with ‘”a Strong buy”‘ outlook in a report released in late March. As of October 25, 2023, Jefferies has increased its “Hold” rating to a “Buy” for SRRK.
Analyzing SRRK Stock Performance
During the last five days, there has been a surge of approximately 269.73%. Over the course of the year, Scholar Rock Holding Corp shares have jumped approximately 39.04%. Shares of the company reached a 52-week high of $35.38 on 10/08/24 and a 52-week low of $6.76 on 10/03/24. A 50-day SMA is recorded $10.35, while a 200-day SMA reached $12.59. Nevertheless, trading volume fell to 5.17 million shares from 6.62 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 24.47, which, if violated, would cause prices to drop to 22.80. In the upper region, resistance lies at 27.34. The next price resistance is at 28.54. RSI (Relative Strength Index) is 70.95 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 13.64, which suggests the price will increase in the coming days. Percent R is at 32.28%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Scholar Rock Holding Corp (SRRK)?
On September 19, 2022, H.C. Wainwright assigned a price target of “a Buy” to the stock and resumed coverage with a $30.
