Scholar Rock Holding Co. (NASDAQ:SRRK) Receives Average Recommendation of “Buy” from Brokerages

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have received a consensus rating of “Buy” from the seven brokerages that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $40.43.

A number of research analysts recently issued reports on SRRK shares. Wedbush raised their price target on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. raised their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. HC Wainwright upped their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. BMO Capital Markets raised their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Finally, 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.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $43.22 on Friday. The stock’s 50-day moving average is $36.09 and its two-hundred day moving average is $20.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $46.19. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -18.39 and a beta of 0.58.

Insiders Place Their Bets

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 value 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the transaction, the chief financial officer now owns 161,088 shares of the company’s stock, valued at $4,278,497.28. The trade was a 56.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,821,386 shares of company stock worth $56,395,016. 19.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $25,000 after purchasing an additional 514 shares during the period. Quarry LP lifted 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 acquiring 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 worth approximately $98,000. Hsbc Holdings PLC acquired a new stake in shares of Scholar Rock in the 2nd quarter worth approximately $100,000. Finally, Point72 DIFC Ltd purchased a new position in Scholar Rock in the 2nd quarter valued at approximately $103,000. 91.08% of the stock is owned by institutional investors and hedge funds.

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.