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

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have received a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $40.43.

A number of research analysts have recently weighed in on SRRK shares. Truist Financial increased their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a report on Wednesday, January 29th. Finally, HC Wainwright increased their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $35.79 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The stock has a market cap of $3.39 billion, a PE ratio of -15.23 and a beta of 0.59. The firm’s fifty day moving average price is $39.87 and its two-hundred day moving average price is $30.99.

Insider Buying and Selling at Scholar Rock

In related news, CFO Edward H. Myles sold 142,292 shares of Scholar Rock stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the sale, the chief financial officer now directly owns 111,345 shares in the company, valued at $3,966,108.90. This trade represents a 56.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jing L. Marantz sold 5,655 shares of Scholar Rock stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the sale, the insider now owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 292,266 shares of company stock worth $10,996,151 over the last 90 days. 19.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Scholar Rock

Several large investors have recently made changes to their positions in SRRK. Mackenzie Financial Corp acquired a new position in shares of Scholar Rock during the 4th quarter valued at about $212,000. GF Fund Management CO. LTD. acquired a new position in shares of Scholar Rock during the 4th quarter valued at about $85,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Scholar Rock during the 4th quarter valued at about $16,680,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Scholar Rock by 42.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company’s stock valued at $5,845,000 after acquiring an additional 40,436 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of Scholar Rock by 317.4% during the 4th quarter. Voloridge Investment Management LLC now owns 201,576 shares of the company’s stock valued at $8,712,000 after acquiring an additional 153,280 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.