Scholar Rock (NASDAQ:SRRK) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a research note published on Thursday,RTT News reports. They currently have a $47.00 target price on the stock.

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

Scholar Rock Price Performance

Shares of SRRK opened at $40.49 on Thursday. The firm has a market cap of $3.79 billion, a PE ratio of -17.23 and a beta of 0.52. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $37.85 and a two-hundred day simple moving average of $21.74. Scholar Rock has a 1-year low of $6.76 and a 1-year high of $46.19.

Insider Activity

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC bought a new position in shares of Scholar Rock during the second quarter worth $6,223,000. Fisher Asset Management LLC boosted its holdings in shares of Scholar Rock by 593.6% during the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock valued at $5,879,000 after purchasing an additional 628,186 shares during the last quarter. Millennium Management LLC grew its position in shares of Scholar Rock by 159.2% during the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after purchasing an additional 568,512 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Scholar Rock by 1,051.3% in the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after purchasing an additional 444,961 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Scholar Rock by 3.1% in the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after buying an additional 308,813 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.