Scholar Rock Holding Co. (NASDAQ:SRRK) Receives Consensus Rating of “Buy” from Analysts

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have received a consensus recommendation of “Buy” from the five research firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $24.20.

A number of analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $20.00 target price on shares of Scholar Rock in a research report on Monday. Wedbush reissued an “outperform” rating and set a $23.00 price target on shares of Scholar Rock in a research report on Tuesday, January 23rd. Raymond James started coverage on Scholar Rock in a research report on Thursday. They issued a “strong-buy” rating and a $30.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a report on Tuesday, March 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $28.00 price target on shares of Scholar Rock in a research note on Tuesday.

Scholar Rock Price Performance

SRRK opened at $15.45 on Thursday. The stock’s 50-day moving average price is $15.55 and its 200 day moving average price is $13.32. The company has a current ratio of 8.80, a quick ratio of 8.80 and a debt-to-equity ratio of 0.22. Scholar Rock has a 12-month low of $5.56 and a 12-month high of $21.17. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -7.76 and a beta of 0.89.

Insiders Place Their Bets

In other Scholar Rock news, CFO Edward H. Myles sold 12,459 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $18.83, for a total transaction of $234,602.97. Following the completion of the sale, the chief financial officer now directly owns 168,784 shares in the company, valued at $3,178,202.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Mo Qatanani sold 2,512 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $39,538.88. Following the completion of the sale, the insider now owns 147,019 shares of the company’s stock, valued at $2,314,079.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Edward H. Myles sold 12,459 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $18.83, for a total transaction of $234,602.97. Following the completion of the sale, the chief financial officer now directly owns 168,784 shares of the company’s stock, valued at approximately $3,178,202.72. The disclosure for this sale can be found here. Insiders have sold 46,303 shares of company stock valued at $769,490 over the last three months. 26.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Scholar Rock

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of Scholar Rock by 192.3% during the second quarter. Royal Bank of Canada now owns 3,493 shares of the company’s stock worth $26,000 after purchasing an additional 2,298 shares in the last quarter. Amalgamated Bank increased its stake in Scholar Rock by 52.8% in the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock valued at $30,000 after buying an additional 1,458 shares during the last quarter. UBS Group AG increased its stake in shares of Scholar Rock by 279.0% during the 1st quarter. UBS Group AG now owns 4,328 shares of the company’s stock worth $35,000 after purchasing an additional 3,186 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in shares of Scholar Rock by 1,388.7% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,171 shares of the company’s stock worth $41,000 after purchasing an additional 2,958 shares during the last quarter. Finally, Alpha Paradigm Partners LLC acquired a new position in shares of Scholar Rock during the 3rd quarter worth about $50,000. 91.08% of the stock is owned by institutional investors.

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.