Scholar Rock (NASDAQ:SRRK) Given “Outperform” Rating at Wedbush

Wedbush restated their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report published on Thursday morning,RTT News reports. The firm currently has a $47.00 target price on the stock.

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

Scholar Rock Stock Up 0.9 %

NASDAQ:SRRK opened at $40.85 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The company has a 50-day moving average of $37.61 and a 200 day moving average of $21.43. Scholar Rock has a 1-year low of $6.76 and a 1-year high of $46.19. The firm has a market cap of $3.82 billion, a PE ratio of -17.38 and a beta of 0.52.

Insider Activity

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the sale, the insider now owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after buying an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after purchasing an additional 42,139 shares in the last quarter. Barclays PLC boosted its holdings in shares of Scholar Rock by 103.4% during the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after purchasing an additional 84,118 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Scholar Rock in the second quarter valued at approximately $6,223,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Scholar Rock by 7.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock valued at $759,000 after purchasing an additional 6,269 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.