Scholar Rock’s (SRRK) “Outperform” Rating Reiterated at Wedbush

by · The Markets Daily

Wedbush reissued their outperform rating on shares of Scholar Rock (NASDAQ:SRRK – Free Report) in a report released on Thursday morning,RTT News reports. Wedbush currently has a $47.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. HC Wainwright raised their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. BMO Capital Markets upped their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Truist Financial lifted their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler upped their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Scholar Rock has an average rating of “Buy” and a consensus price target of $40.43.

View Our Latest Report on SRRK

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $40.85 on Thursday. The firm has a market capitalization of $3.82 billion, a PE ratio of -17.38 and a beta of 0.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The business’s fifty day moving average price is $37.61 and its 200 day moving average price is $21.43. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $46.19.

Insider Buying and Selling

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction on Monday, November 25th. The shares were sold at an average price of $38.49, for a total value of $15,759,076.17. Following the transaction, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Several hedge funds have recently made changes to their positions in SRRK. GAMMA Investing LLC raised its holdings in Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Scholar Rock by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after buying an additional 379 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after buying an additional 514 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in Scholar Rock by 3.6% during the second quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after acquiring an additional 1,594 shares during the period. Finally, ClariVest Asset Management LLC lifted its holdings in Scholar Rock by 3.0% in the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock valued at $497,000 after acquiring an additional 1,718 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Scholar Rock

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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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