Scholar Rock’s (SRRK) Outperform Rating Reiterated at Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a report issued on Monday,RTT News reports. They presently have a $50.00 target price on the stock. Wedbush’s price target would indicate a potential upside of 44.01% from the company’s current price.

A number of other research firms also recently issued reports on SRRK. HC Wainwright boosted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial boosted their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $40.86.

Scholar Rock Stock Up 0.3 %

Shares of SRRK traded up $0.12 during mid-day trading on Monday, hitting $34.72. 1,903,677 shares of the company traded hands, compared to its average volume of 1,154,819. The company has a market capitalization of $3.29 billion, a PE ratio of -14.77 and a beta of 0.59. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average of $39.46 and a 200 day moving average of $31.50. Scholar Rock has a 1-year low of $6.76 and a 1-year high of $46.98.

Insider Transactions at Scholar Rock

In other news, CEO Jay T. Backstrom sold 18,372 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total transaction of $676,640.76. Following the completion of the sale, the chief executive officer now owns 311,991 shares of the company’s stock, valued at $11,490,628.53. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward H. Myles sold 142,292 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the transaction, the chief financial officer now owns 111,345 shares in the company, valued at $3,966,108.90. The trade was a 56.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 292,266 shares of company stock valued at $10,996,151 over the last 90 days. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of hedge funds and other institutional investors have recently modified their holdings of SRRK. FMR LLC increased its holdings in shares of Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company’s stock worth $589,316,000 after buying an additional 3,439,215 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Scholar Rock by 7.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company’s stock worth $401,231,000 after acquiring an additional 629,315 shares during the period. Vanguard Group Inc. increased its stake in Scholar Rock by 17.6% during the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock worth $205,013,000 after acquiring an additional 708,817 shares during the last quarter. Marshall Wace LLP raised its position in Scholar Rock by 1,283.7% in the fourth quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock valued at $127,301,000 after purchasing an additional 2,732,546 shares during the period. Finally, Bellevue Group AG lifted its stake in shares of Scholar Rock by 16.2% in the 4th quarter. Bellevue Group AG now owns 2,510,690 shares of the company’s stock valued at $108,512,000 after purchasing an additional 349,487 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Company Profile

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.