HC Wainwright restated their buy rating on shares of Scholar Rock (NASDAQ:SRRK – Free Report) in a research note released on Tuesday morning, Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock.
Other research analysts have also recently issued research reports about the stock. Truist Financial reissued a buy rating and set a $20.00 target price on shares of Scholar Rock in a report on Wednesday, April 3rd. Wedbush reissued an outperform rating and set a $23.00 target price on shares of Scholar Rock in a report on Tuesday, May 7th. Raymond James initiated coverage on shares of Scholar Rock in a report on Thursday, March 28th. They set a strong-buy rating and a $30.00 target price for the company. BMO Capital Markets raised their target price on shares of Scholar Rock from $29.00 to $31.00 and gave the stock an outperform rating in a report on Thursday, June 13th. Finally, Piper Sandler reissued an overweight rating and set a $28.00 target price on shares of Scholar Rock in a report on Tuesday, March 26th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Scholar Rock has an average rating of Buy and a consensus target price of $26.00.
Read Our Latest Research Report on Scholar Rock
Scholar Rock Trading Up 6.6 %
Scholar Rock (NASDAQ:SRRK – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same period last year, the firm earned ($0.46) EPS. On average, analysts forecast that Scholar Rock will post -2.4 earnings per share for the current year.
Insider Activity at Scholar Rock
In related news, General Counsel Junlin Ho sold 4,695 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $42,161.10. Following the sale, the general counsel now owns 204,076 shares in the company, valued at $1,832,602.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, General Counsel Junlin Ho sold 4,695 shares of Scholar Rock stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the sale, the general counsel now owns 204,076 shares in the company, valued at $1,832,602.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Edward H. Myles sold 9,458 shares of Scholar Rock stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $84,932.84. Following the completion of the sale, the chief financial officer now owns 201,518 shares in the company, valued at approximately $1,809,631.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,468 shares of company stock worth $147,883. 26.20% of the stock is owned by company insiders.
Institutional Trading of Scholar Rock
Several institutional investors have recently modified their holdings of the stock. Walleye Trading LLC acquired a new stake in shares of Scholar Rock in the first quarter valued at about $178,000. Jane Street Group LLC boosted its position in Scholar Rock by 95.5% during the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after acquiring an additional 119,363 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in Scholar Rock during the first quarter worth about $4,900,000. Bayesian Capital Management LP acquired a new position in Scholar Rock during the first quarter worth about $258,000. Finally, Redmile Group LLC boosted its position in Scholar Rock by 0.3% during the first quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock worth $114,012,000 after acquiring an additional 17,105 shares during the last quarter. Institutional investors and hedge funds 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.
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