HC Wainwright Issues Positive Forecast for Scholar Rock (NASDAQ:SRRK) Stock Price

Scholar Rock (NASDAQ:SRRK) had its price objective boosted by investment analysts at HC Wainwright from $40.00 to $50.00 in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 31.06% from the stock’s previous close.

Several other brokerages have also recently weighed in on SRRK. Piper Sandler lifted their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Truist Financial increased their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Wedbush upped 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. JPMorgan Chase & Co. upped their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, BMO Capital Markets lifted their target price on Scholar Rock from $34.00 to $38.00 and gave the company 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.43.

Scholar Rock Stock Up 2.9 %

SRRK stock opened at $38.15 on Tuesday. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $43.38. 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 stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -16.23 and a beta of 0.47. The business’s fifty day moving average price is $23.69 and its two-hundred day moving average price is $14.37.

Insider Buying and Selling at Scholar Rock

In other news, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction 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 sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the transaction, the insider now directly owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,823,322 shares of company stock worth $56,411,627. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after acquiring an additional 84,118 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after purchasing an additional 120,489 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Scholar Rock by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock valued at $1,600,000 after buying an additional 27,801 shares during the period. Sphera Funds Management LTD. bought a new stake in Scholar Rock in the 3rd quarter valued at about $1,337,000. Finally, Quarry LP raised its stake in Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after buying an additional 4,373 shares during the period. 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.