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

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reiterated by Wedbush in a report released on Wednesday,RTT News reports. They presently have a $47.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 10.43% from the company’s current price.

Several other research firms have also recently issued reports on SRRK. BMO Capital Markets raised their price objective on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. HC Wainwright increased their price objective on shares of 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 target on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Piper Sandler lifted their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Truist Financial increased their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Stock Performance

NASDAQ SRRK traded up $0.22 during trading hours on Wednesday, hitting $42.56. 844,986 shares of the stock were exchanged, compared to its average volume of 999,038. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $46.98. The stock has a 50-day moving average of $41.94 and a 200 day moving average of $24.97. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -18.11 and a beta of 0.52. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction dated 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 sale, the insider now owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This represents 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. Also, CFO Edward H. Myles sold 12,539 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $554,223.80. Following the completion of the sale, the chief financial officer now directly owns 148,549 shares of the company’s stock, valued at approximately $6,565,865.80. This represents a 7.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 458,974 shares of company stock valued at $17,948,788 in the last 90 days. 19.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors have recently modified their holdings of SRRK. GAMMA Investing LLC boosted its stake in shares of Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after purchasing an additional 514 shares in the last quarter. KBC Group NV acquired a new position in shares of Scholar Rock during the 4th quarter worth approximately $131,000. Finally, Quarry LP raised its stake in shares of Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares in the last quarter. Institutional investors 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.