Wedbush Reiterates Outperform Rating for Scholar Rock (NASDAQ:SRRK)

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reissued by Wedbush in a research note issued to investors on Monday,RTT News reports. They presently have a $50.00 target price on the stock. Wedbush’s target price would suggest a potential upside of 47.58% from the stock’s current price.

A number of other equities analysts also recently issued reports on SRRK. Truist Financial increased their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. HC Wainwright increased their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Scholar Rock presently has an average rating of “Buy” and an average price target of $40.86.

Scholar Rock Stock Down 2.4 %

SRRK opened at $33.88 on Monday. The business has a 50 day moving average price of $39.17 and a two-hundred day moving average price of $31.85. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $3.21 billion, a PE ratio of -14.42 and a beta of 0.59. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98.

Insider Buying and Selling

In related news, insider Mo Qatanani sold 68,510 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total value of $2,562,274.00. Following the sale, the insider now owns 111,084 shares in the company, valued at $4,154,541.60. This represents a 38.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Edward H. Myles sold 142,292 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the sale, the chief financial officer now owns 111,345 shares in the company, valued at approximately $3,966,108.90. This represents a 56.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 292,266 shares of company stock worth $10,996,151 in the last quarter. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

A number of large investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company’s stock valued at $589,316,000 after buying an additional 3,439,215 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Scholar Rock by 7.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company’s stock valued at $401,231,000 after buying an additional 629,315 shares during the last quarter. Vanguard Group Inc. grew its holdings in Scholar Rock by 17.6% during the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock valued at $205,013,000 after buying an additional 708,817 shares during the last quarter. Marshall Wace LLP grew its holdings in Scholar Rock by 1,283.7% during the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock valued at $127,301,000 after buying an additional 2,732,546 shares during the last quarter. Finally, Bellevue Group AG grew its holdings in Scholar Rock by 16.2% during the 4th quarter. Bellevue Group AG now owns 2,510,690 shares of the company’s stock valued at $108,512,000 after buying an additional 349,487 shares during the last quarter. Institutional investors and hedge funds 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.