Wedbush Reaffirms “Outperform” Rating for Scholar Rock (NASDAQ:SRRK)

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report released on Tuesday,RTT News reports. They presently have a $50.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 55.47% from the stock’s current price.

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

Scholar Rock Trading Down 3.4 %

Shares of Scholar Rock stock opened at $32.16 on Tuesday. The stock has a market cap of $3.04 billion, a P/E ratio of -13.69 and a beta of 0.59. 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 business’s 50 day moving average is $38.15 and its 200-day moving average is $32.72. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $46.98.

Insiders Place Their Bets

In other news, Director Katie Peng sold 1,006 shares of Scholar Rock stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.42, for a total transaction of $34,626.52. Following the completion of the sale, the director now owns 30,319 shares of the company’s stock, valued at approximately $1,043,579.98. This trade represents a 3.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jing L. Marantz sold 5,655 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the completion of the transaction, the insider now owns 67,200 shares in the company, valued at $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 299,772 shares of company stock worth $11,245,798 over the last three months. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in 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 acquiring an additional 269 shares during the period. Quarry LP grew 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 worth $36,000 after purchasing an additional 4,373 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Scholar Rock by 584.7% in the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC raised its stake in Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Scholar Rock during the fourth quarter worth about $85,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.