Scholar Rock Holding Co. (NASDAQ:SRRK) Receives Average Recommendation of “Buy” from Analysts

Scholar Rock Holding Co. (NASDAQ:SRRK) has received a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $40.43.

SRRK has been the subject of several research analyst reports. Piper Sandler increased their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. HC Wainwright raised their price target on 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 raised their price target on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wedbush raised their price target on Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, BMO Capital Markets raised their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th.

Insider Activity at Scholar Rock

In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the sale, the director now owns 5,612,896 shares of the company’s stock, valued at $164,177,208. This trade represents a 17.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the 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 sale, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,823,322 shares of company stock valued at $56,411,627 over the last quarter. 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 business. FMR LLC boosted its stake in Scholar Rock by 3.1% in the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after buying an additional 308,813 shares during the last quarter. Vanguard Group Inc. boosted its stake in Scholar Rock by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after buying an additional 114,550 shares during the last quarter. Geode Capital Management LLC boosted its stake in Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after buying an additional 120,489 shares during the last quarter. Millennium Management LLC boosted its stake in Scholar Rock by 159.2% in the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after buying an additional 568,512 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its stake in Scholar Rock by 5.1% in the 2nd quarter. Hood River Capital Management LLC now owns 832,792 shares of the company’s stock worth $6,937,000 after buying an additional 40,745 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Trading Up 4.1 %

NASDAQ:SRRK opened at $43.59 on Tuesday. The stock has a fifty day moving average price of $28.68 and a two-hundred day moving average price of $15.85. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -18.55 and a beta of 0.58. 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 1 year low of $6.76 and a 1 year high of $44.00.

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.