Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $40.43 Average PT from Brokerages

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

A number of equities analysts have recently commented on the company. HC Wainwright boosted their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Truist Financial boosted their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Wedbush boosted their target price on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Piper Sandler boosted their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $43.59 on Tuesday. Scholar Rock has a one year low of $6.76 and a one year high of $44.00. The company has a market cap of $4.08 billion, a PE ratio of -18.55 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The business has a 50-day simple moving average of $28.68 and a 200-day simple moving average of $15.85.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business’s stock in a transaction that occurred 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 owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were 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 owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This represents a 37.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,823,322 shares of company stock worth $56,411,627. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently modified their holdings of SRRK. Vanguard Group Inc. lifted its holdings in shares of Scholar Rock by 4.0% during the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after purchasing an additional 114,550 shares during the period. Jane Street Group LLC lifted its holdings in shares of 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 purchasing an additional 119,363 shares during the period. Walleye Trading LLC acquired a new stake in shares of Scholar Rock during the first quarter worth $178,000. DNB Asset Management AS lifted its holdings in shares of Scholar Rock by 28.5% during the second quarter. DNB Asset Management AS now owns 19,812 shares of the company’s stock worth $165,000 after purchasing an additional 4,390 shares during the period. Finally, Values First Advisors Inc. purchased a new position in Scholar Rock in the second quarter worth $216,000. 91.08% of the stock is 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.