Brokerages Set Scholar Rock Holding Co. (NASDAQ:SRRK) PT at $40.43

Scholar Rock Holding Co. (NASDAQ:SRRK) has earned an average rating of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Six equities 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 issued ratings on the stock in the last year is $40.43.

A number of research firms have issued reports on SRRK. 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 report on Monday, November 25th. HC Wainwright upped their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a report on Wednesday, January 29th.

Insider Transactions at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 12,539 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the transaction, the chief financial officer now directly owns 148,549 shares in the company, valued at $6,565,865.80. This represents a 7.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the sale, the insider now owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 559,407 shares of company stock valued at $21,686,786. Insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Creative Planning acquired a new position in Scholar Rock in the third quarter valued at $115,000. E. Ohman J or Asset Management AB lifted its holdings in shares of Scholar Rock by 32.6% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 122,000 shares of the company’s stock valued at $977,000 after purchasing an additional 30,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after purchasing an additional 514 shares during the period. abrdn plc grew its stake in Scholar Rock by 28.2% during the 3rd quarter. abrdn plc now owns 748,489 shares of the company’s stock worth $5,995,000 after buying an additional 164,715 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in Scholar Rock by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 15,393 shares of the company’s stock worth $123,000 after buying an additional 6,023 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 3.0 %

Shares of SRRK opened at $39.15 on Friday. The company’s 50-day simple moving average is $41.89 and its 200-day simple moving average is $28.17. 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 has a 1 year low of $6.76 and a 1 year high of $46.98. The stock has a market capitalization of $3.67 billion, a PE ratio of -16.66 and a beta of 0.50.

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.