Scholar Rock (NASDAQ:SRRK) Stock Price Expected to Rise, HC Wainwright Analyst Says

Scholar Rock (NASDAQ:SRRK) had its price target upped by research analysts at HC Wainwright from $35.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 46.09% from the stock’s previous close.

SRRK has been the topic of a number of other reports. Piper Sandler boosted their price target on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets boosted their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. boosted their price target on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Wedbush reissued an “outperform” rating and issued a $37.00 price target on shares of Scholar Rock in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $34.00.

Scholar Rock Stock Performance

Scholar Rock stock opened at $27.38 on Tuesday. The stock’s 50 day simple moving average is $19.86 and its two-hundred day simple moving average is $13.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -11.65 and a beta of 0.47. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $35.38.

Insider Activity at Scholar Rock

In related news, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Scholar Rock news, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the transaction, the chief financial officer now directly owns 161,088 shares in the company, valued at approximately $4,278,497.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,415,340 shares of company stock valued at $40,666,088. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after purchasing an additional 514 shares in the last quarter. Walleye Trading LLC purchased a new position in shares of Scholar Rock during the first quarter valued at about $178,000. Principal Financial Group Inc. purchased a new position in shares of Scholar Rock during the second quarter valued at about $98,000. Hsbc Holdings PLC purchased a new position in shares of Scholar Rock during the second quarter valued at about $100,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Scholar Rock during the second quarter valued at about $103,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.