Scholar Rock (NASDAQ:SRRK) Given New $45.00 Price Target at Truist Financial

Scholar Rock (NASDAQ:SRRK) had its price objective upped by Truist Financial from $36.00 to $45.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

SRRK has been the topic of a number of other reports. BMO Capital Markets raised their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Piper Sandler raised their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. HC Wainwright raised their price target on shares of Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Wedbush reissued an “outperform” rating and issued a $37.00 target price on shares of Scholar Rock in a research note on Monday, November 4th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and a consensus price target of $39.00.

Scholar Rock Trading Up 26.1 %

Shares of Scholar Rock stock opened at $37.72 on Monday. The firm has a market capitalization of $3.53 billion, a PE ratio of -16.05 and a beta of 0.47. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $43.38. The firm’s 50-day moving average price is $23.12 and its 200 day moving average price is $14.21. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insiders Place Their Bets

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the sale, the director now owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. The trade was a 17.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the sale, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. The trade was a 37.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,413,889 shares of company stock valued at $40,652,551 in the last ninety days. 19.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Scholar Rock

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after buying an additional 514 shares during the period. Quarry LP raised its position in shares of Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after buying an additional 4,373 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Scholar Rock during the 2nd quarter valued at approximately $98,000. Hsbc Holdings PLC purchased a new stake in Scholar Rock in the second quarter valued at approximately $100,000. Finally, Point72 DIFC Ltd purchased a new stake in Scholar Rock in the second quarter valued at approximately $103,000. Hedge funds and other 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.