Brokerages Set Scholar Rock Holding Co. (NASDAQ:SRRK) Price Target at $40.43

Scholar Rock Holding Co. (NASDAQ:SRRK) has received an average rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $40.43.

Several brokerages have recently issued reports on SRRK. Wedbush reissued an “outperform” rating and set a $47.00 price target on shares of Scholar Rock in a report on Wednesday, January 29th. Truist Financial lifted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, HC Wainwright lifted their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th.

Scholar Rock Stock Performance

Shares of SRRK opened at $37.70 on Friday. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -16.04 and a beta of 0.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a fifty day moving average of $41.81 and a 200-day moving average of $28.51.

Insiders Place Their Bets

In other Scholar Rock news, CFO Edward H. Myles sold 12,539 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the sale, the chief financial officer now directly owns 148,549 shares in the company, valued at approximately $6,565,865.80. The trade was a 7.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Junlin Ho sold 5,742 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $211,477.86. Following the completion of the sale, the general counsel now owns 189,295 shares in the company, valued at approximately $6,971,734.85. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 559,407 shares of company stock worth $21,686,786. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently bought and sold shares of SRRK. Mirae Asset Global Investments Co. Ltd. raised its position in 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 worth $25,000 after acquiring an additional 514 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 buying an additional 269 shares during the period. Quarry LP raised its holdings in 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 buying an additional 4,373 shares during the period. Global Retirement Partners LLC raised its holdings in Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after buying an additional 766 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after buying an additional 1,031 shares during the period. 91.08% of the stock is currently owned by institutional investors.

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.