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 $66,640,000 were sold by Invus Public Equities, L.P. on Dec 10 ’24. At $41.65 per share, Invus Public Equities, L.P. sold 1,600,000 shares. The insider’s holdings dropped to 9,250,005 shares worth approximately $423.0 million following the completion of this transaction.
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Also, Invus Public Equities, L.P. sold 409,433 shares, netting a total of over 15,757,639 in proceeds. Following the sale of shares at $38.49 each, the insider now holds 10,850,005 shares.
Before that, Marantz Jing L. had sold 6,375 shares from its account. In a trade valued at $251,399, the CHIEF MEDICAL OFFICER traded Scholar Rock Holding Corp shares for $39.44 each. Upon closing the transaction, the insider’s holdings decreased to 6,375 shares, worth approximately $3.33 million.
As published in a research note from H.C. Wainwright on November 26, 2024, Scholar Rock Holding Corp [SRRK] has been retained to a Buy and the price target has been revised to $50. Analysts at H.C. Wainwright resumed the stock at ‘”a Buy”‘ outlook in a report released in early October. As of March 28, 2024, Raymond James has initiated its “Strong buy” rating for SRRK. Earlier on October 25, 2023, Jefferies upgraded its rating. Their new recommendation was “a Buy” for SRRK stock which previously was a “a Hold”.
Analyzing SRRK Stock Performance
During the last five days, there has been a surge of approximately 10.86%. Over the course of the year, Scholar Rock Holding Corp shares have jumped approximately 143.24%. Shares of the company reached a 52-week high of $46.19 on 12/10/24 and a 52-week low of $6.76 on 10/03/24. A 50-day SMA is recorded $34.46, while a 200-day SMA reached $17.37. Nevertheless, trading volume fell to 0.66 million shares from 0.92 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 44.81, which, if violated, would cause prices to drop to 43.90. In the upper region, resistance lies at 46.23. The next price resistance is at 46.74. RSI (Relative Strength Index) is 67.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.56, which suggests the price will increase in the coming days. Percent R is at 7.63%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
