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

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have been assigned a consensus rating of “Buy” from the seven research firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $40.43.

Several equities research analysts have weighed in on the company. HC Wainwright boosted their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wedbush reissued an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research report on Wednesday, January 29th. Finally, Truist Financial raised their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th.

Scholar Rock Stock Performance

Scholar Rock stock opened at $37.07 on Friday. The company’s 50-day moving average price is $42.34 and its 200-day moving average price is $27.50. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $3.47 billion, a PE ratio of -15.77 and a beta of 0.50. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $46.98.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, CEO Jay T. Backstrom sold 22,308 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the sale, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at $14,602,044.60. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s 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 trade represents a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 458,974 shares of company stock valued at $17,948,788 in the last quarter. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently made changes to their positions in SRRK. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. GAMMA Investing LLC increased its position in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $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 purchasing an additional 4,373 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake 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 valued at $48,000 after purchasing an additional 1,031 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

About Scholar Rock

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.