Scholar Rock Holding Co. (NASDAQ:SRRK) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have earned an average recommendation of “Buy” from the seven research firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $40.43.

SRRK has been the subject of several recent analyst reports. Truist Financial boosted their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. HC Wainwright upped their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. 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. Piper Sandler raised their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Wedbush boosted their target price on Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, November 25th.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the transaction, the director now owns 5,612,896 shares in the company, valued at approximately $164,177,208. This represents a 17.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. The trade was a 37.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,821,386 shares of company stock valued at $56,395,016 in the last ninety days. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

A number of large investors have recently modified their holdings of SRRK. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 269 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after purchasing an additional 379 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares in the last quarter. Rice Hall James & Associates LLC grew its position in Scholar Rock by 3.6% during the second quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after buying an additional 1,594 shares during the period. Finally, ClariVest Asset Management LLC increased its holdings in Scholar Rock by 3.0% in the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock valued at $497,000 after buying an additional 1,718 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 2.3 %

Scholar Rock stock opened at $45.17 on Friday. The stock’s fifty day moving average is $36.70 and its two-hundred day moving average is $20.51. The stock has a market cap of $4.23 billion, a PE ratio of -19.22 and a beta of 0.58. Scholar Rock has a 1-year low of $6.76 and a 1-year high of $46.19. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88.

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.