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

Scholar Rock Holding Co. (NASDAQ:SRRK) has received an average recommendation of “Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $40.43.

Several brokerages recently commented on SRRK. JPMorgan Chase & Co. increased 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. Wedbush reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Scholar Rock in a report on Thursday, January 9th. BMO Capital Markets boosted their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Piper Sandler raised their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, HC Wainwright boosted their price target on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th.

Insider Activity at Scholar Rock

In other news, insider Jing L. Marantz sold 5,655 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the sale, the insider now directly owns 67,200 shares in the company, valued at $2,970,240. This trade represents a 7.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay T. Backstrom sold 22,308 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was 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 directly owns 330,363 shares of the company’s stock, valued at $14,602,044.60. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,974 shares of company stock worth $17,948,788 over the last three months. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of institutional investors and hedge funds have recently made changes to their positions in SRRK. GAMMA Investing LLC lifted its stake in Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after buying an additional 269 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after acquiring an additional 379 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after acquiring an additional 514 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Cinctive Capital Management LP raised its stake in Scholar Rock by 7.2% in the 3rd quarter. Cinctive Capital Management LP now owns 42,902 shares of the company’s stock valued at $344,000 after purchasing an additional 2,869 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Trading Down 3.6 %

Scholar Rock stock opened at $43.75 on Wednesday. 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 stock has a market cap of $4.10 billion, a PE ratio of -18.62 and a beta of 0.52. The stock has a 50-day moving average of $41.03 and a two-hundred day moving average of $24.37. Scholar Rock has a one year low of $6.76 and a one year high of $46.98.

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.