Scholar Rock Holding Co. (NASDAQ:SRRK) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have earned an average recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $40.43.

Several equities analysts recently weighed in on SRRK shares. Truist Financial increased their price objective 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. HC Wainwright raised their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wedbush increased their target price on Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. BMO Capital Markets boosted their target price on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Finally, Piper Sandler increased their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th.

Scholar Rock Price Performance

Shares of SRRK stock opened at $44.46 on Friday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $46.19. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of -18.92 and a beta of 0.57. The stock has a 50-day moving average price of $34.97 and a 200 day moving average price of $19.08.

Insider Activity at Scholar Rock

In other news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the transaction, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. This represents a 3.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the transaction, the insider now owns 49,285 shares of the company’s stock, valued at $1,262,681.70. The trade was a 37.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,821,386 shares of company stock valued at $56,395,016. 19.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SRRK. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Quarry LP raised its position in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after acquiring an additional 4,373 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Scholar Rock in the second quarter valued at $98,000. Hsbc Holdings PLC bought a new position in shares of Scholar Rock in the 2nd quarter valued at about $100,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Scholar Rock during the 2nd quarter worth about $103,000. 91.08% of the stock is currently owned by 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.