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

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) has been given an average recommendation of "Buy" by the seven research firms that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $40.43.

Several equities analysts have weighed in on SRRK shares. HC Wainwright raised their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. 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 research note on Monday, November 25th. Finally, Wedbush reissued an "outperform" rating and issued a $47.00 price target on shares of Scholar Rock in a report on Wednesday, January 29th.

Insider Transactions at Scholar Rock

In other news, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 142,292 shares of Scholar Rock stock in a transaction that occurred on 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 sale, the chief financial officer now owns 111,345 shares in the company, valued at $3,966,108.90. This represents a 56.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 292,266 shares of company stock valued at $10,996,151. Company insiders own 19.20% of the company's stock.

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Hedge Funds Weigh In On Scholar Rock

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 269 shares during 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 purchasing an additional 379 shares in the last quarter. Amalgamated Bank raised its stake in Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after acquiring an additional 620 shares during the period. Global Retirement Partners LLC raised its holdings in 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 acquiring an additional 766 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings 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 worth $48,000 after buying an additional 1,031 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Scholar Rock Stock Down 3.5 %

Scholar Rock stock traded down $1.24 during mid-day trading on Thursday, reaching $34.55. The stock had a trading volume of 670,248 shares, compared to its average volume of 1,160,857. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The firm has a market capitalization of $3.27 billion, a PE ratio of -14.70 and a beta of 0.59. The stock's 50-day simple moving average is $39.87 and its 200-day simple moving average is $30.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

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.