Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $40.43 Consensus Target Price from Analysts

Scholar Rock Holding Co. (NASDAQ:SRRK) has been given a consensus recommendation of “Buy” by the seven brokerages that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $40.86.

A number of research firms have recently issued reports on SRRK. Wedbush reissued an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a research report on Monday. Truist Financial increased their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright boosted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th.

Insider Buying and Selling

In other Scholar Rock news, insider Jing L. Marantz sold 5,655 shares of Scholar Rock stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $249,951.00. Following the transaction, the insider now directly owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the sale, the chief executive officer now owns 330,363 shares of the company’s stock, valued at approximately $14,602,044.60. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,272 shares of company stock worth $11,030,778 in the last 90 days. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Scholar Rock by 51.8% in the 4th 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. Quarry LP lifted its stake in shares of Scholar Rock by 3,443.3% during the third 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. Global Retirement Partners LLC grew its holdings in shares of Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after buying an additional 766 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after acquiring an additional 1,031 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in Scholar Rock in the 4th quarter worth $85,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Performance

Scholar Rock stock opened at $33.97 on Thursday. The company has a 50 day moving average price of $39.03 and a 200-day moving average price of $31.86. The company has a market capitalization of $3.22 billion, a PE ratio of -14.46 and a beta of 0.59. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

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.