Scholar Rock (NASDAQ:SRRK) Price Target Raised to $45.00

Scholar Rock (NASDAQ:SRRK) had its target price hoisted by Truist Financial from $36.00 to $45.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Scholar Rock in a report on Monday, November 4th. Piper Sandler upped their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. HC Wainwright raised their target price on Scholar Rock from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, 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. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Stock Performance

SRRK opened at $38.15 on Monday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $43.38. The firm has a 50 day moving average of $23.69 and a two-hundred day moving average of $14.37. The firm has a market capitalization of $3.57 billion, a PE ratio of -16.23 and a beta of 0.47.

Insider Buying and Selling at Scholar Rock

In other 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 value of $15,759,076.17. Following the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Tracey Sacco sold 30,000 shares of the company’s 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 sale, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This represents a 37.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,823,322 shares of company stock valued at $56,411,627 over the last quarter. 19.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently made changes to their positions in SRRK. Jane Street Group LLC increased its stake in shares of Scholar Rock by 95.5% in the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after acquiring an additional 119,363 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Scholar Rock in the second quarter valued at about $6,223,000. Kennedy Capital Management LLC acquired a new stake in Scholar Rock during the first quarter worth about $4,900,000. Vanguard Group Inc. raised its stake in Scholar Rock by 4.0% during the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after purchasing an additional 114,550 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Scholar Rock in the 3rd quarter valued at about $1,093,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Company Profile

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.