Brokerages Set Scholar Rock Holding Co. (NASDAQ:SRRK) PT at $40.43

Scholar Rock Holding Co. (NASDAQ:SRRK) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $40.43.

Several research analysts have commented on SRRK shares. BMO Capital Markets raised their price objective on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. HC Wainwright increased their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research report on Thursday, January 9th. Finally, Piper Sandler boosted their price target on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th.

Insider Buying and Selling at Scholar Rock

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’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 sale, the insider now owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jing L. Marantz sold 5,655 shares of the 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 completion of the sale, the insider now directly owns 67,200 shares in the company, valued at approximately $2,970,240. This trade represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,974 shares of company stock valued at $17,948,788 over the last 90 days. 19.20% of the stock is owned by corporate insiders.

Institutional Trading of Scholar Rock

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased 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. GAMMA Investing LLC raised its stake in shares of Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares in the last quarter. Quarry LP lifted its holdings 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 last quarter. Nisa Investment Advisors LLC grew its stake in shares of Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after buying an additional 1,031 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Scholar Rock in the 2nd quarter valued at approximately $100,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Stock Down 3.6 %

Shares of SRRK stock opened at $43.75 on Wednesday. Scholar Rock has a one year low of $6.76 and a one year high of $46.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -18.62 and a beta of 0.52. The company’s fifty day moving average price is $41.03 and its 200-day moving average price is $24.15.

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.