Scholar Rock (NASDAQ:SRRK) Receives “Outperform” Rating from Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating restated by Wedbush in a report issued on Thursday,RTT News reports. They presently have a $47.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 15.06% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Piper Sandler raised their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. BMO Capital Markets upped their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Truist Financial lifted their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, HC Wainwright raised their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Stock Up 0.9 %

Shares of NASDAQ:SRRK traded up $0.37 during midday trading on Thursday, reaching $40.85. The company had a trading volume of 883,599 shares, compared to its average volume of 914,440. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. Scholar Rock has a one year low of $6.76 and a one year high of $46.19. The stock’s fifty day moving average price is $37.36 and its 200-day moving average price is $21.29. The stock has a market capitalization of $3.82 billion, a P/E ratio of -17.38 and a beta of 0.52.

Insider Transactions at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. GAMMA Investing LLC lifted its position in Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after purchasing an additional 269 shares during the last quarter. Quarry LP grew its stake in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after buying an additional 4,373 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Scholar Rock during the 2nd quarter valued at $98,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Scholar Rock during the 2nd quarter worth $100,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Scholar Rock

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.