Scholar Rock (NASDAQ:SRRK) Stock Price Expected to Rise, Truist Financial Analyst Says

Scholar Rock (NASDAQ:SRRK) had its price target lifted by equities researchers at Truist Financial from $36.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 21.42% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Piper Sandler lifted their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. BMO Capital Markets lifted their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. HC Wainwright lifted their target price on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $37.00 target price on shares of Scholar Rock in a report on Monday, November 4th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $40.43.

Scholar Rock Trading Down 1.7 %

Shares of NASDAQ SRRK opened at $37.06 on Monday. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $43.38. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $23.12 and a 200-day simple moving average of $14.21. The stock has a market capitalization of $3.47 billion, a PE ratio of -15.83 and a beta of 0.47.

Insiders Place Their Bets

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the sale, the director now owns 5,612,896 shares in the company, valued at approximately $164,177,208. The trade was a 17.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction dated 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 sale, the chief financial officer now owns 161,088 shares in the company, valued at $4,278,497.28. This trade represents a 56.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,413,889 shares of company stock valued at $40,652,551 in the last ninety days. Insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after purchasing an additional 308,813 shares in the last quarter. Vanguard Group Inc. increased its position in Scholar Rock by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after acquiring an additional 114,550 shares during the period. Geode Capital Management LLC increased its position in Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after acquiring an additional 120,489 shares during the period. Millennium Management LLC increased its position in Scholar Rock by 159.2% in the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after acquiring an additional 568,512 shares during the period. Finally, Hood River Capital Management LLC increased its position in Scholar Rock by 5.1% in the 2nd quarter. Hood River Capital Management LLC now owns 832,792 shares of the company’s stock valued at $6,937,000 after acquiring an additional 40,745 shares during the period. Institutional investors and hedge funds 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.