Wedbush Reaffirms “Outperform” Rating for Scholar Rock (NASDAQ:SRRK)

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating restated by analysts at Wedbush in a report released on Monday,RTT News reports. They currently have a $50.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 44.01% from the company’s previous close.

A number of other equities analysts have also weighed in on SRRK. Truist Financial boosted their target price 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 raised their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Scholar Rock presently has an average rating of “Buy” and a consensus target price of $40.86.

Scholar Rock Stock Up 0.3 %

Shares of NASDAQ:SRRK traded up $0.12 on Monday, hitting $34.72. 1,903,677 shares of the company traded hands, compared to its average volume of 1,154,819. The company has a market cap of $3.29 billion, a PE ratio of -14.77 and a beta of 0.59. The stock has a 50 day simple moving average of $39.46 and a 200-day simple moving average of $31.50. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Transactions at Scholar Rock

In other news, CFO Edward H. Myles sold 12,539 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $554,223.80. Following the completion of the sale, the chief financial officer now directly owns 148,549 shares of the company’s stock, valued at $6,565,865.80. This trade represents a 7.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 67,200 shares in the company, valued at approximately $2,970,240. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 292,266 shares of company stock valued at $10,996,151 in the last ninety days. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in shares of Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock valued at $1,600,000 after acquiring an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Scholar Rock by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after purchasing an additional 42,139 shares during the period. Barclays PLC raised its holdings in shares of Scholar Rock by 103.4% in the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock valued at $1,324,000 after purchasing an additional 84,118 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Scholar Rock by 7.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock worth $759,000 after purchasing an additional 6,269 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after purchasing an additional 120,489 shares in the last quarter. 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.