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

Wedbush reaffirmed their outperform rating on shares of Scholar Rock (NASDAQ:SRRK - Free Report) in a research report released on Tuesday,RTT News reports. They currently have a $50.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Truist Financial boosted their target price 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 boosted their price objective 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Scholar Rock currently has an average rating of "Buy" and a consensus price target of $42.67.

Scholar Rock Stock Down 1.6 %

SRRK traded down $0.52 during trading on Tuesday, hitting $32.84. 1,129,184 shares of the company's stock traded hands, compared to its average volume of 1,171,222. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $46.98. The company's 50 day simple moving average is $37.74 and its two-hundred day simple moving average is $32.89. 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 market capitalization of $3.11 billion, a price-to-earnings ratio of -13.97 and a beta of 0.59.

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Insider Transactions at Scholar Rock

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the company'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 completion of the sale, the director now owns 30,319 shares in the company, valued at $1,043,579.98. This represents a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the transaction, the chief executive officer now directly owns 330,363 shares in the company, valued at approximately $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 299,772 shares of company stock worth $11,245,798 in the last quarter. Company insiders own 19.20% of the company's stock.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Wellington Management Group LLP increased its stake in shares of Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company's stock worth $1,600,000 after purchasing an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock worth $4,027,000 after buying an additional 42,139 shares in the last quarter. Barclays PLC raised its holdings in Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company's stock valued at $1,324,000 after acquiring an additional 84,118 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 acquiring an additional 6,269 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock worth $12,361,000 after acquiring 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.