Scholar Rock Holding Co. (NASDAQ:SRRK) Receives Average Rating of “Buy” from Analysts

Scholar Rock Holding Co. (NASDAQ:SRRK) has been given an average recommendation of “Buy” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $40.43.

Several analysts have issued reports on the stock. Truist Financial upped their price target 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. BMO Capital Markets boosted 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. Piper Sandler lifted their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, HC Wainwright lifted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th.

Scholar Rock Trading Up 2.3 %

NASDAQ:SRRK opened at $45.17 on Friday. The company has a market capitalization of $4.23 billion, a PE ratio of -19.22 and a beta of 0.58. Scholar Rock has a 52-week low of $6.76 and a 52-week high of $46.19. The stock has a fifty day simple moving average of $36.70 and a 200-day simple moving average of $20.51. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Buying and Selling

In other news, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction dated 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 directly owns 161,088 shares in the company, valued at $4,278,497.28. This trade represents a 56.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the transaction, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. This represents a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,821,386 shares of company stock valued at $56,395,016. Insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Scholar Rock by 1.0% in the 3rd 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. Exome Asset Management LLC purchased a new position in Scholar Rock in the third quarter valued at about $1,115,000. Barclays PLC lifted its stake in shares of Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after purchasing an additional 84,118 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 valued at $12,361,000 after buying an additional 120,489 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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.