Scholar Rock Holding Co. (NASDAQ:SRRK) Given Consensus Rating of “Buy” by Brokerages

Scholar Rock Holding Co. (NASDAQ:SRRK) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.43.

SRRK has been the topic of several research analyst reports. HC Wainwright lifted their target price on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, Truist Financial lifted their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th.

Scholar Rock Price Performance

NASDAQ SRRK opened at $37.70 on Friday. The company has a current ratio of 3.88, a quick 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 stock’s 50-day moving average price is $41.81 and its two-hundred day moving average price is $28.51. The company has a market cap of $3.53 billion, a PE ratio of -16.04 and a beta of 0.50.

Insider Activity at Scholar Rock

In related news, 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 value of $15,759,076.17. Following the completion of the sale, the insider now owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Edward H. Myles sold 12,539 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 148,549 shares of the company’s stock, valued at approximately $6,565,865.80. The trade was a 7.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 559,407 shares of company stock valued at $21,686,786. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares during the period. GAMMA Investing LLC boosted its position in Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares during the period. Quarry LP boosted its position in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares during the period. Global Retirement Partners LLC boosted its position in Scholar Rock by 584.7% during the fourth 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 period. Finally, Nisa Investment Advisors LLC boosted its position in 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 during the period. Institutional investors own 91.08% of the company’s stock.

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.