Scholar Rock Holding Co. (NASDAQ:SRRK) Given Consensus Recommendation of “Buy” by Brokerages

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

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. HC Wainwright lifted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler increased their price target on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Wedbush lifted their price objective on Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, Truist Financial increased 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.

Scholar Rock Trading Down 4.9 %

Shares of SRRK stock opened at $37.96 on Tuesday. 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 business has a fifty day simple moving average of $25.49 and a 200-day simple moving average of $14.90. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $43.38. The stock has a market cap of $3.55 billion, a P/E ratio of -16.15 and a beta of 0.47.

Insider Activity

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This represents a 3.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now directly 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. Insiders have sold 1,823,322 shares of company stock valued at $56,411,627 in the last three months. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased 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 worth $25,000 after acquiring an additional 514 shares during the last quarter. Quarry LP raised its position 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. Principal Financial Group Inc. purchased a new position in shares of Scholar Rock during the 2nd quarter valued at approximately $98,000. Hsbc Holdings PLC acquired a new stake in shares of Scholar Rock during the second quarter worth approximately $100,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Scholar Rock in the second quarter worth $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.