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

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have been given an average recommendation of “Buy” by the seven ratings firms that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $40.86.

SRRK has been the subject of several research reports. HC Wainwright raised their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research report on Monday. Finally, 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 report on Monday, November 25th.

Scholar Rock Stock Up 0.3 %

Shares of SRRK stock opened at $34.72 on Thursday. The stock has a market cap of $3.29 billion, a P/E ratio of -14.77 and a beta of 0.59. Scholar Rock has a one year low of $6.76 and a one year high of $46.98. The stock has a fifty day moving average price of $39.30 and a 200 day moving average price of $31.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 12,539 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was 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 in the company, valued at approximately $6,565,865.80. This trade represents a 7.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jing L. Marantz sold 5,655 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 292,266 shares of company stock worth $10,996,151 over the last three months. 19.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Scholar Rock

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp acquired a new stake in shares of Scholar Rock in the fourth quarter valued at $212,000. GF Fund Management CO. LTD. acquired a new stake in shares of Scholar Rock in the fourth quarter valued at $85,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in Scholar Rock in the fourth quarter valued at about $16,680,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Scholar Rock by 42.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company’s stock valued at $5,845,000 after acquiring an additional 40,436 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Scholar Rock by 317.4% in the fourth quarter. Voloridge Investment Management LLC now owns 201,576 shares of the company’s stock valued at $8,712,000 after acquiring an additional 153,280 shares during the last quarter. 91.08% of the stock is currently 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.