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

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research note issued to investors on Wednesday,RTT News reports. They currently have a $47.00 target price on the stock. Wedbush’s target price points to a potential upside of 10.43% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. HC Wainwright boosted their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. BMO Capital Markets increased their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Truist Financial lifted 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. Piper Sandler increased their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $40.43.

Scholar Rock Price Performance

Shares of NASDAQ SRRK traded up $0.22 during trading hours on Wednesday, hitting $42.56. 844,986 shares of the stock were exchanged, compared to its average volume of 999,038. The company’s fifty day simple moving average is $41.94 and its two-hundred day simple moving average is $24.97. The company has a market cap of $3.98 billion, a PE ratio of -18.11 and a beta of 0.52. 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 $46.98.

Insider Transactions at Scholar Rock

In other news, insider Jing L. Marantz sold 5,655 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $249,951.00. Following the completion of the sale, the insider now owns 67,200 shares in the company, valued at $2,970,240. This represents a 7.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the transaction, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 458,974 shares of company stock worth $17,948,788 over the last three months. 19.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SRRK. Mirae Asset Global Investments Co. Ltd. increased its holdings in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after acquiring an additional 514 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares during the period. Quarry LP raised its holdings in shares of Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after acquiring an additional 4,373 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Scholar Rock in the second quarter worth approximately $100,000. 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.