Scholar Rock Holding Co. (NASDAQ:SRRK) Given Average Rating of “Buy” by Analysts

Scholar Rock Holding Co. (NASDAQ:SRRK) has received an average rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $42.67.

Separately, Wedbush reiterated an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Tuesday, March 25th.

Insider Buying and Selling

In other Scholar Rock news, CEO Jay T. Backstrom sold 22,308 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the transaction, the chief executive officer now owns 330,363 shares in the company, valued at $14,602,044.60. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the sale, the director now owns 30,319 shares in the company, valued at approximately $1,043,579.98. This represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is owned by insiders.

Institutional Trading of Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of SRRK. GAMMA Investing LLC raised its stake in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after purchasing an additional 269 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Scholar Rock by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after buying an additional 379 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Scholar Rock by 30.6% during the 4th quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after acquiring an additional 620 shares during the last quarter. Global Retirement Partners LLC grew its position in 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 acquiring an additional 766 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased 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 acquiring an additional 1,031 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Trading Up 6.4 %

NASDAQ SRRK opened at $28.00 on Monday. The business’s fifty day moving average is $34.21 and its 200-day moving average is $34.51. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -11.91 and a beta of 0.56. Scholar Rock has a one year low of $6.76 and a one year high of $46.98.

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.