Scholar Rock (NASDAQ:SRRK) Price Target Raised to $45.00 at Truist Financial

Scholar Rock (NASDAQ:SRRK) had its target price raised by Truist Financial from $36.00 to $45.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $37.00 target price on shares of Scholar Rock in a report on Monday, November 4th. BMO Capital Markets increased their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. HC Wainwright increased their target price on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Piper Sandler raised their price target on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $40.43.

Scholar Rock Stock Up 2.9 %

Scholar Rock stock opened at $38.15 on Monday. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -16.23 and a beta of 0.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $43.38. The stock’s fifty day moving average is $24.29 and its two-hundred day moving average is $14.54.

Insider Activity

In related news, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the completion of the transaction, the insider now owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This represents a 37.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction 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 transaction, the insider now owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,823,322 shares of company stock valued at $56,411,627 over the last quarter. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of institutional investors have recently modified their holdings of SRRK. Jane Street Group LLC lifted its position in Scholar Rock by 95.5% during the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock valued at $4,339,000 after buying an additional 119,363 shares in the last quarter. Clearbridge Investments LLC acquired a new position in shares of Scholar Rock in the 2nd quarter valued at approximately $6,223,000. Kennedy Capital Management LLC acquired a new stake in Scholar Rock during the first quarter valued at approximately $4,900,000. Vanguard Group Inc. raised its holdings in shares of Scholar Rock by 4.0% during the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after purchasing an additional 114,550 shares during the period. Finally, SG Americas Securities LLC bought a new position in Scholar Rock during the 3rd quarter worth $1,093,000. Hedge funds and other 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.