Truist Financial restated their buy rating on shares of Scholar Rock (NASDAQ:SRRK – Free Report) in a research report sent to investors on Monday, Benzinga reports. They currently have a $20.00 target price on the stock.
SRRK has been the topic of several other research reports. HC Wainwright reaffirmed a buy rating and set a $30.00 price objective on shares of Scholar Rock in a report on Tuesday, March 19th. Wedbush reiterated an outperform rating and issued a $23.00 target price on shares of Scholar Rock in a research note on Tuesday, January 23rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $24.20.
Check Out Our Latest Analysis on SRRK
Scholar Rock Stock Performance
Insider Buying and Selling
In related news, CFO Edward H. Myles sold 12,459 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $18.83, for a total value of $234,602.97. Following 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Caryn Parlavecchio sold 2,849 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $15.93, for a total value of $45,384.57. Following the transaction, the insider now directly owns 114,350 shares of the company’s stock, valued at approximately $1,821,595.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward H. Myles sold 12,459 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $18.83, for a total transaction of $234,602.97. Following the sale, the chief financial officer now owns 168,784 shares of the company’s stock, valued at $3,178,202.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,303 shares of company stock valued at $769,490. Corporate insiders own 26.20% of the company’s stock.
Institutional Trading of Scholar Rock
Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Scholar Rock by 47.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,436,185 shares of the company’s stock valued at $46,315,000 after purchasing an additional 2,704,442 shares during the period. Polar Capital Holdings Plc purchased a new position in Scholar Rock in the 3rd quarter valued at about $10,664,000. BlackRock Inc. boosted its position in Scholar Rock by 115.5% in the 2nd quarter. BlackRock Inc. now owns 2,790,971 shares of the company’s stock valued at $21,044,000 after buying an additional 1,495,618 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Scholar Rock during the fourth quarter valued at about $21,275,000. Finally, Bank of America Corp DE increased its position in shares of Scholar Rock by 2,187.0% during the fourth quarter. Bank of America Corp DE now owns 1,050,631 shares of the company’s stock worth $9,508,000 after acquiring an additional 1,004,692 shares during the last quarter. Hedge funds and other institutional investors 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.
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