Scholar Rock (NASDAQ:SRRK) Receives Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Scholar Rock (NASDAQ:SRRK) in a research note issued to investors on Monday morning, Benzinga reports. Truist Financial currently has a $20.00 price target on the stock.

Other analysts also recently issued research reports about the company. HC Wainwright reaffirmed a buy rating and issued a $30.00 target price on shares of Scholar Rock in a research report on Tuesday, March 19th. Wedbush reaffirmed an outperform rating and issued a $23.00 target price on shares of Scholar Rock in a research report on Tuesday, January 23rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $24.20.

Scholar Rock Trading Up 3.0 %

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

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 4,744 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $74,670.56. Following the completion of the transaction, the chief financial officer now directly owns 210,976 shares in the company, valued at $3,320,762.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jay T. Backstrom sold 11,614 shares of Scholar Rock stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $182,804.36. Following the completion of the transaction, the chief executive officer now owns 352,671 shares of the company’s stock, valued at $5,551,041.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward H. Myles sold 4,744 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $74,670.56. Following the completion of the sale, the chief financial officer now owns 210,976 shares of the company’s stock, valued at $3,320,762.24. The disclosure for this sale can be found here. Insiders sold 46,303 shares of company stock worth $769,490 over the last three months. Insiders own 26.20% of the company’s stock.

Institutional Trading of Scholar Rock

Several large investors have recently made changes to their positions in SRRK. Price T Rowe Associates Inc. MD lifted its position in Scholar Rock by 47.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,436,185 shares of the company’s stock valued at $46,315,000 after acquiring an additional 2,704,442 shares in the last quarter. FMR LLC boosted its position in Scholar Rock by 3.8% in the third quarter. FMR LLC now owns 8,005,654 shares of the company’s stock worth $56,840,000 after purchasing an additional 291,156 shares during the last quarter. Redmile Group LLC increased its position in shares of Scholar Rock by 7.5% during the 3rd quarter. Redmile Group LLC now owns 4,733,248 shares of the company’s stock valued at $33,606,000 after purchasing an additional 329,408 shares during the last quarter. Vanguard Group Inc. raised its position in Scholar Rock by 39.1% in the fourth quarter. Vanguard Group Inc. now owns 2,854,984 shares of the company’s stock worth $53,674,000 after acquiring an additional 802,266 shares during the period. Finally, BlackRock Inc. grew its holdings in Scholar Rock by 115.5% during the second quarter. BlackRock Inc. now owns 2,790,971 shares of the company’s stock valued at $21,044,000 after purchasing an additional 1,495,618 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.