Scholar Rock (NASDAQ:SRRK) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report released on Thursday, RTT News reports. They currently have a $23.00 price target on the stock. Wedbush also issued estimates for Scholar Rock’s FY2028 earnings at $3.06 EPS.

Several other equities research analysts have also commented on SRRK. BMO Capital Markets boosted their price objective on shares of Scholar Rock from $29.00 to $31.00 and gave the stock an outperform rating in a research report on Thursday, June 13th. HC Wainwright restated a buy rating and issued a $30.00 target price on shares of Scholar Rock in a report on Tuesday, June 25th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Scholar Rock presently has an average rating of Buy and a consensus price target of $26.43.

Scholar Rock Stock Performance

SRRK traded up $0.28 during trading on Thursday, hitting $8.45. The stock had a trading volume of 567,492 shares, compared to its average volume of 831,126. The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.58 and a current ratio of 6.58. The firm has a market capitalization of $673.89 million, a P/E ratio of -4.04 and a beta of 0.85. The company’s 50-day moving average price is $8.76 and its 200 day moving average price is $12.60. Scholar Rock has a twelve month low of $5.93 and a twelve month high of $21.17.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same quarter last year, the firm earned ($0.47) EPS. On average, equities research analysts forecast that Scholar Rock will post -2.4 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Junlin Ho sold 4,695 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the transaction, the general counsel now owns 204,076 shares of the company’s stock, valued at approximately $1,832,602.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Scholar Rock news, CFO Edward H. Myles sold 9,458 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $84,932.84. Following the completion of the sale, the chief financial officer now owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Junlin Ho sold 4,695 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the sale, the general counsel now directly owns 204,076 shares of the company’s stock, valued at approximately $1,832,602.48. The disclosure for this sale can be found here. Insiders sold a total of 16,468 shares of company stock valued at $147,883 in the last 90 days. 26.20% of the stock is currently owned by insiders.

Institutional Trading of Scholar Rock

Several large investors have recently bought and sold shares of the company. Amalgamated Bank boosted its stake in shares of Scholar Rock by 15.5% during the 4th quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after buying an additional 652 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Scholar Rock in the second quarter worth $98,000. DNB Asset Management AS boosted its holdings in Scholar Rock by 28.5% in the second quarter. DNB Asset Management AS now owns 19,812 shares of the company’s stock worth $165,000 after purchasing an additional 4,390 shares during the period. Spire Wealth Management acquired a new position in Scholar Rock in the fourth quarter worth $178,000. Finally, Walleye Trading LLC acquired a new position in Scholar Rock in the first quarter worth $178,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.