Scholar Rock Holding Co. (NASDAQ:SRRK) Given Consensus Rating of “Buy” by Brokerages

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $40.43.

Several equities analysts have recently commented on SRRK shares. JPMorgan Chase & Co. upped their price target on 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 objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial raised their price target on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. 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. Finally, Wedbush restated an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research report on Thursday, January 9th.

Scholar Rock Stock Down 0.5 %

NASDAQ SRRK opened at $42.34 on Wednesday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.96 billion, a PE ratio of -18.02 and a beta of 0.52. The business’s fifty day simple moving average is $41.64 and its 200-day simple moving average is $24.85. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98.

Insider Transactions at Scholar Rock

In other news, General Counsel Junlin Ho sold 9,039 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $399,523.80. Following the completion of the transaction, the general counsel now owns 195,037 shares in the company, valued at $8,620,635.40. This trade represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the transaction, the insider now owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 458,974 shares of company stock valued at $17,948,788. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 269 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Scholar Rock by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after buying an additional 379 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after buying an additional 1,031 shares in the last quarter. Finally, Cinctive Capital Management LP boosted its stake in shares of Scholar Rock by 7.2% in the third quarter. Cinctive Capital Management LP now owns 42,902 shares of the company’s stock valued at $344,000 after purchasing an additional 2,869 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Company Profile

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.