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

Wedbush reissued their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report published on Tuesday, RTT News reports. The firm currently has a $23.00 price target on the stock.

Several other research firms also recently commented on SRRK. Truist Financial reaffirmed a buy rating and set a $20.00 price objective on shares of Scholar Rock in a report on Wednesday, April 3rd. Piper Sandler reaffirmed an overweight rating and issued a $28.00 price objective on shares of Scholar Rock in a report on Tuesday, March 26th. Raymond James began coverage on shares of Scholar Rock in a report on Thursday, March 28th. They set a strong-buy rating and a $30.00 target price on the stock. Finally, HC Wainwright reaffirmed a buy rating and issued a $30.00 price target on shares of Scholar Rock in a report on Tuesday, March 19th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $25.17.

Scholar Rock Stock Down 2.5 %

SRRK opened at $14.69 on Tuesday. The company’s 50-day moving average price is $15.20 and its two-hundred day moving average price is $14.95. The company has a quick ratio of 8.80, a current ratio of 8.80 and a debt-to-equity ratio of 0.22. Scholar Rock has a twelve month low of $5.56 and a twelve month high of $21.17. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -7.38 and a beta of 0.94.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.01). As a group, equities analysts expect that Scholar Rock will post -2.01 earnings per share for the current year.

Insider Transactions at Scholar Rock

In related news, General Counsel Junlin Ho sold 3,489 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $54,916.86. Following the completion of the transaction, the general counsel now directly owns 208,771 shares in the company, valued at $3,286,055.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Scholar Rock news, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $54,916.86. Following the completion of the sale, the general counsel now directly owns 208,771 shares in the company, valued at $3,286,055.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mo Qatanani sold 2,512 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $39,538.88. Following the completion of the transaction, the insider now directly owns 147,019 shares in the company, valued at approximately $2,314,079.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,359 shares of company stock valued at $351,931. 26.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in Scholar Rock by 16.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock worth $156,444,000 after buying an additional 1,149,519 shares in the last quarter. FMR LLC raised its position in Scholar Rock by 3.8% in the 3rd quarter. FMR LLC now owns 8,005,654 shares of the company’s stock worth $56,840,000 after purchasing an additional 291,156 shares during the period. Redmile Group LLC lifted its stake in Scholar Rock by 7.5% in the third quarter. Redmile Group LLC now owns 4,733,248 shares of the company’s stock worth $33,606,000 after purchasing an additional 329,408 shares during the last quarter. Bellevue Group AG boosted its position in Scholar Rock by 1.5% during the fourth quarter. Bellevue Group AG now owns 2,168,925 shares of the company’s stock valued at $40,776,000 after buying an additional 31,000 shares during the period. Finally, Polar Capital Holdings Plc bought a new position in shares of Scholar Rock during the third quarter valued at about $10,664,000. 91.08% of the stock is currently 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.