Scholar Rock (NASDAQ:SRRK) Earns “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a research note released on Tuesday morning,RTT News reports. The firm currently has a $50.00 price objective on the stock.

Several other brokerages also recently weighed in on SRRK. HC Wainwright boosted their price objective 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 upped their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Scholar Rock currently has an average rating of “Buy” and a consensus price target of $40.86.

Scholar Rock Stock Up 3.7 %

SRRK opened at $33.36 on Tuesday. The company has a market cap of $3.16 billion, a P/E ratio of -14.20 and a beta of 0.59. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $46.98. The business’s 50-day moving average price is $37.94 and its 200-day moving average price is $32.72. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Activity at Scholar Rock

In related news, Director Katie Peng sold 1,006 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.42, for a total transaction of $34,626.52. Following the transaction, the director now owns 30,319 shares in the company, valued at $1,043,579.98. The trade was a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracey Sacco sold 6,500 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $33.08, for a total transaction of $215,020.00. Following the completion of the sale, the insider now owns 71,750 shares of the company’s stock, valued at $2,373,490. This trade represents a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 299,772 shares of company stock worth $11,245,798 over the last quarter. 19.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SRRK. Wellington Management Group LLP lifted its position in Scholar Rock by 763.8% during the fourth quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company’s stock valued at $74,581,000 after buying an additional 1,525,845 shares during the period. California State Teachers Retirement System increased its stake in shares of Scholar Rock by 30.1% in the 4th quarter. California State Teachers Retirement System now owns 56,269 shares of the company’s stock worth $2,432,000 after acquiring an additional 13,015 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Scholar Rock during the 4th quarter valued at about $212,000. GF Fund Management CO. LTD. bought a new stake in Scholar Rock during the fourth quarter worth about $85,000. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in Scholar Rock in the fourth quarter worth about $16,680,000. Institutional investors own 91.08% of the company’s stock.

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.