Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $40.43 Consensus PT from Brokerages

Scholar Rock Holding Co. (NASDAQ:SRRK) has received a consensus rating of “Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $40.43.

Several analysts recently weighed in on the company. Wedbush restated an “outperform” rating and set a $47.00 price target on shares of Scholar Rock in a report on Thursday, January 9th. 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 report on Monday, October 14th. Piper Sandler upped their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. 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 note on Friday, October 11th. Finally, Truist Financial upped their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th.

Scholar Rock Trading Down 3.6 %

Shares of SRRK stock opened at $43.75 on Wednesday. The company has a market cap of $4.10 billion, a PE ratio of -18.62 and a beta of 0.52. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $46.98. The stock’s 50 day simple moving average is $41.03 and its two-hundred day simple moving average is $24.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

Insiders Place Their Bets

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jing L. Marantz sold 5,655 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,970,240. The trade was a 7.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 458,974 shares of company stock worth $17,948,788. 19.20% of the stock is currently owned by company insiders.

Institutional Trading of Scholar Rock

Several hedge funds and other institutional investors have recently bought and sold shares of SRRK. FMR LLC boosted its position in Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock valued at $81,670,000 after purchasing an additional 308,813 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after buying an additional 120,489 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Scholar Rock by 159.2% in the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after buying an additional 568,512 shares in the last quarter. Hood River Capital Management LLC grew its position in shares of Scholar Rock by 5.1% in the 2nd quarter. Hood River Capital Management LLC now owns 832,792 shares of the company’s stock worth $6,937,000 after buying an additional 40,745 shares during the last quarter. Finally, abrdn plc grew its position in shares of Scholar Rock by 28.2% in the 3rd quarter. abrdn plc now owns 748,489 shares of the company’s stock worth $5,995,000 after buying an additional 164,715 shares during the last quarter. Institutional investors 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.