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

Wedbush reissued their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a research note issued to investors on Monday,RTT News reports. They currently have a $50.00 price target on the stock.

Several other equities analysts also recently weighed in on the company. HC Wainwright lifted their target price 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 report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $40.86.

Scholar Rock Price Performance

NASDAQ SRRK opened at $34.72 on Monday. The company has a market capitalization of $3.29 billion, a PE ratio of -14.77 and a beta of 0.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The business’s fifty day moving average is $39.30 and its 200 day moving average is $31.68. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $46.98.

Insider Transactions at Scholar Rock

In other news, CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $554,223.80. Following the sale, the chief financial officer now directly owns 148,549 shares of the company’s stock, valued at approximately $6,565,865.80. The trade was a 7.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the transaction, the chief executive officer now owns 330,363 shares of the company’s stock, valued at approximately $14,602,044.60. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 292,266 shares of company stock valued at $10,996,151. 19.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Intech Investment Management LLC purchased a new position in Scholar Rock in the third quarter worth about $202,000. Charles Schwab Investment Management Inc. grew its position in Scholar Rock by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after acquiring an additional 42,139 shares in the last quarter. Fisher Asset Management LLC grew its position in Scholar Rock by 593.6% in the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock worth $5,879,000 after acquiring an additional 628,186 shares in the last quarter. FMR LLC grew its position in Scholar Rock by 3.1% in the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after acquiring an additional 308,813 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Scholar Rock by 900.6% in the third quarter. BNP Paribas Financial Markets now owns 36,331 shares of the company’s stock worth $291,000 after acquiring an additional 32,700 shares in the last quarter. Hedge funds and other 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.