Scholar Rock (NASDAQ:SRRK) Receives “Outperform” Rating from Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research note issued on Tuesday,RTT News reports. They presently have a $50.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 50.24% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Truist Financial lifted their price objective on 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 target on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and an average price target of $40.86.

Scholar Rock Stock Performance

NASDAQ:SRRK traded down $0.53 during trading hours on Tuesday, reaching $33.28. The stock had a trading volume of 1,198,919 shares, compared to its average volume of 1,149,807. The stock has a market cap of $3.15 billion, a P/E ratio of -14.16 and a beta of 0.59. The stock has a 50 day simple moving average of $38.40 and a 200 day simple moving average of $32.72. 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 12-month low of $6.76 and a 12-month high of $46.98.

Insider Activity at Scholar Rock

In other news, insider Jing L. Marantz sold 5,655 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $249,951.00. Following the transaction, the insider now owns 67,200 shares in the company, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 148,549 shares in the company, valued at $6,565,865.80. This trade represents a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,272 shares of company stock valued at $11,030,778 over the last 90 days. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Scholar Rock

A number of large investors have recently added to or reduced their stakes in SRRK. Wellington Management Group LLP increased its position in Scholar Rock by 763.8% during the 4th quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company’s stock valued at $74,581,000 after purchasing an additional 1,525,845 shares during the period. California State Teachers Retirement System increased its holdings in shares of Scholar Rock by 30.1% in the 4th quarter. California State Teachers Retirement System now owns 56,269 shares of the company’s stock worth $2,432,000 after purchasing an additional 13,015 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Scholar Rock in the 4th quarter worth about $212,000. GF Fund Management CO. LTD. purchased a new position in shares of Scholar Rock during the fourth quarter valued at approximately $85,000. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in Scholar Rock during the 4th quarter valued at $16,680,000. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Company Profile

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.