Wedbush Reiterates “Outperform” Rating for Scholar Rock (NASDAQ:SRRK)

Wedbush reaffirmed their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a research report report published on Monday,RTT News reports. The brokerage currently has a $50.00 price objective on the stock.

Several other research analysts have also issued reports on SRRK. Truist Financial raised their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. HC Wainwright raised their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $40.86.

Scholar Rock Trading Up 0.3 %

Shares of SRRK opened at $33.97 on Monday. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $46.98. 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 stock has a 50 day simple moving average of $39.03 and a 200-day simple moving average of $31.86. The stock has a market cap of $3.22 billion, a PE ratio of -14.46 and a beta of 0.59.

Insider Buying and Selling

In other news, Director Katie Peng sold 1,006 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.42, for a total value of $34,626.52. Following the sale, the director now directly owns 30,319 shares in the company, valued at $1,043,579.98. The trade was a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward H. Myles sold 142,292 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the sale, the chief financial officer now owns 111,345 shares in the company, valued at approximately $3,966,108.90. This trade represents a 56.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,272 shares of company stock valued at $11,030,778. 19.20% of the stock is owned by company insiders.

Institutional Trading of Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in Scholar Rock by 16.2% in the third 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. Charles Schwab Investment Management Inc. raised its stake in Scholar Rock by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after buying an additional 42,139 shares during the period. Barclays PLC raised its stake in Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock valued at $1,324,000 after buying an additional 84,118 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Scholar Rock by 7.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock valued at $759,000 after buying an additional 6,269 shares during the period. Finally, Geode Capital Management LLC raised its stake in Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after buying an additional 120,489 shares during the period. 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.