Scholar Rock (NASDAQ:SRRK) Stock Price Expected to Rise, Wedbush Analyst Says

Scholar Rock (NASDAQ:SRRK) had its target price lifted by Wedbush from $40.00 to $47.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 18.84% from the stock’s previous close.

Other analysts have also issued research reports about the company. Piper Sandler lifted their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. HC Wainwright raised their price objective on shares of Scholar Rock from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Truist Financial upped their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets boosted their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. raised their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $39.00.

Scholar Rock Stock Up 32.2 %

Shares of Scholar Rock stock traded up $9.63 on Monday, reaching $39.55. The company’s stock had a trading volume of 4,411,682 shares, compared to its average volume of 1,142,457. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -16.83 and a beta of 0.47. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $43.38. The firm’s fifty day simple moving average is $22.52 and its two-hundred day simple moving average is $14.04.

Insider Transactions at Scholar Rock

In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the transaction, the director now owns 5,612,896 shares in the company, valued at $164,177,208. This trade represents a 17.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Tracey Sacco sold 30,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. The trade was a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,413,889 shares of company stock valued at $40,652,551 over the last 90 days. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock valued at $1,324,000 after purchasing an additional 84,118 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after buying an additional 120,489 shares during the period. Wellington Management Group LLP raised its holdings in shares of Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock valued at $1,600,000 after acquiring an additional 27,801 shares in the last quarter. Sphera Funds Management LTD. bought a new position in Scholar Rock during the 3rd quarter worth about $1,337,000. Finally, Quarry LP raised its holdings in shares of Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after purchasing an additional 4,373 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.

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.