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

Scholar Rock (NASDAQ:SRRK - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wedbush in a research note issued on Wednesday,RTT News reports. They presently have a $47.00 price objective on the stock. Wedbush's target price suggests a potential upside of 16.39% from the stock's current price.

Several other equities analysts also recently issued reports on SRRK. Piper Sandler upped their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Truist Financial raised their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. BMO Capital Markets boosted their price target on Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a research note on Friday, October 11th. JPMorgan Chase & Co. raised their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Finally, HC Wainwright upped their target price on Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $40.43.

Scholar Rock Stock Down 0.0 %

Shares of Scholar Rock stock traded down $0.02 during trading on Wednesday, reaching $40.38. The company's stock had a trading volume of 1,580,616 shares, compared to its average volume of 899,168. The company has a 50-day simple moving average of $42.42 and a two-hundred day simple moving average of $25.52. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock has a 1-year low of $6.76 and a 1-year high of $46.98. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -17.18 and a beta of 0.52.

Insider Activity

In other Scholar Rock news, CEO Jay T. Backstrom sold 22,308 shares of the company's 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 completion of the transaction, the chief executive officer now owns 330,363 shares in the company, valued at approximately $14,602,044.60. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jing L. Marantz sold 5,655 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 $249,951.00. Following the completion of the transaction, the insider now owns 67,200 shares of the company's stock, valued at approximately $2,970,240. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 458,974 shares of company stock valued at $17,948,788 in the last three months. 19.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Global Retirement Partners LLC raised its position in shares of Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 766 shares during the last quarter. New York State Common Retirement Fund increased its stake in Scholar Rock by 117.5% during the 4th quarter. New York State Common Retirement Fund now owns 22,586 shares of the company's stock worth $976,000 after buying an additional 12,200 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Scholar Rock during the fourth quarter valued at approximately $274,000. Rhumbline Advisers lifted its position in shares of Scholar Rock by 13.2% in the fourth quarter. Rhumbline Advisers now owns 113,261 shares of the company's stock valued at $4,895,000 after acquiring an additional 13,247 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Scholar Rock by 29.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,850 shares of the company's stock worth $858,000 after acquiring an additional 4,457 shares during the last quarter. Hedge funds and other 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.