Scholar Rock Holding Co. (NASDAQ:SRRK) Given Average Rating of "Buy" by Brokerages

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) has received an average recommendation of "Buy" from the seven research firms that are currently covering the company, MarketBeat.com reports. Six research 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 brokerages that have covered the stock in the last year is $40.43.

A number of brokerages have recently issued reports on SRRK. Wedbush upped their price objective on Scholar Rock from $40.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, November 25th. HC Wainwright increased their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Truist Financial upped their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, BMO Capital Markets lifted their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, October 11th.

Scholar Rock Stock Down 2.8 %

SRRK traded down $1.27 on Friday, hitting $44.46. 463,838 shares of the company were exchanged, compared to its average volume of 1,137,612. The stock's fifty day moving average is $35.25 and its 200-day moving average is $19.32. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $46.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The company has a market cap of $4.16 billion, a PE ratio of -18.92 and a beta of 0.58.

Insider Buying and Selling at Scholar Rock

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. The trade was a 3.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the transaction, the chief financial officer now owns 161,088 shares in the company, valued at $4,278,497.28. The trade was a 56.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,821,386 shares of company stock valued at $56,395,016 in the last three months. 19.20% of the stock is currently owned by company insiders.

Institutional Trading of Scholar Rock

Institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC acquired a new stake in shares of Scholar Rock in the second quarter valued at approximately $6,223,000. Candriam S.C.A. acquired a new position in Scholar Rock in the 2nd quarter valued at $6,201,000. Fisher Asset Management LLC lifted its position in shares of Scholar Rock by 593.6% during the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company's stock valued at $5,879,000 after acquiring an additional 628,186 shares during the period. Millennium Management LLC grew its holdings in shares of Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company's stock worth $7,710,000 after purchasing an additional 568,512 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Scholar Rock by 1,051.3% in the second quarter. Marshall Wace LLP now owns 487,285 shares of the company's stock worth $4,059,000 after purchasing an additional 444,961 shares during the period. Institutional investors own 91.08% of the company's stock.

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.