Scholar Rock (NASDAQ:SRRK) Price Target Raised to $47.00

Scholar Rock (NASDAQ:SRRK) had its price objective upped by Wedbush from $40.00 to $47.00 in a report published on Monday morning, Marketbeat reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on SRRK. JPMorgan Chase & Co. increased their price objective on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets lifted their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Truist Financial boosted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright increased their target price on shares of Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Piper Sandler boosted their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $38.15 on Monday. Scholar Rock has a 52-week low of $6.76 and a 52-week high of $43.38. The company has a fifty day moving average of $23.69 and a 200-day moving average of $14.37. The company has a market capitalization of $3.57 billion, a P/E ratio of -16.23 and a beta of 0.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Insider Buying and Selling

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the sale, the insider now directly owns 10,850,005 shares in the company, valued at $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the transaction, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at $4,278,497.28. This represents a 56.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,823,322 shares of company stock valued at $56,411,627 over the last quarter. 19.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Scholar Rock by 4.0% during the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after purchasing an additional 114,550 shares during the last quarter. American International Group Inc. increased its position in Scholar Rock by 3.0% during the 1st quarter. American International Group Inc. now owns 28,407 shares of the company’s stock valued at $505,000 after buying an additional 834 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Scholar Rock during the first quarter valued at $258,000. Kennedy Capital Management LLC bought a new stake in Scholar Rock in the first quarter worth $4,900,000. Finally, Jane Street Group LLC grew its stake in shares of Scholar Rock by 95.5% in the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after acquiring an additional 119,363 shares during the last quarter. 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.