HC Wainwright Boosts Scholar Rock (NASDAQ:SRRK) Price Target to $40.00

Scholar Rock (NASDAQ:SRRK) had its target price lifted by HC Wainwright from $35.00 to $40.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

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

Scholar Rock Trading Down 5.3 %

Shares of SRRK stock opened at $26.66 on Tuesday. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $35.38. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $19.49 and its two-hundred day moving average is $13.33. The company has a market capitalization of $2.13 billion, a P/E ratio of -12.01 and a beta of 0.47.

Insider Buying and Selling 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 sale, the insider now owns 49,285 shares in the company, valued at $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 is available at this hyperlink. In related news, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction dated Monday, October 7th. The shares were 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 directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the transaction, the insider now owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,415,340 shares of company stock valued at $40,666,088. Corporate insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in 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 buying an additional 514 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Scholar Rock during the 2nd quarter worth about $98,000. Hsbc Holdings PLC acquired a new position in Scholar Rock in the 2nd quarter valued at about $100,000. Point72 DIFC Ltd purchased a new position in Scholar Rock in the 2nd quarter valued at about $103,000. Finally, Creative Planning acquired a new stake in shares of Scholar Rock during the 3rd quarter worth about $115,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.