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

Wedbush restated their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report released on Monday,RTT News reports. The firm currently has a $50.00 target price on the stock.

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

Scholar Rock Trading Up 0.3 %

Shares of SRRK stock opened at $33.97 on Monday. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The stock has a market cap of $3.22 billion, a P/E ratio of -14.46 and a beta of 0.59. The business has a fifty day simple moving average of $39.03 and a 200-day simple moving average of $31.86. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insiders Place Their Bets

In related news, CFO Edward H. Myles sold 12,539 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $554,223.80. Following the sale, the chief financial officer now directly owns 148,549 shares in the company, valued at approximately $6,565,865.80. This trade represents a 7.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Katie Peng sold 1,006 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the sale, the director now owns 30,319 shares in the company, valued at approximately $1,043,579.98. The trade was a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,272 shares of company stock valued at $11,030,778. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after purchasing an additional 269 shares during the period. Quarry LP boosted its stake in Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after purchasing an additional 4,373 shares during the period. Global Retirement Partners LLC boosted its stake in Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC boosted its stake in Scholar Rock by 1,321.8% during the 4th 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 period. Finally, GF Fund Management CO. LTD. bought a new stake in Scholar Rock during the 4th quarter valued at approximately $85,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.