Scholar Rock's (SRRK) Buy Rating Reaffirmed at Truist Financial

Truist Financial reiterated their buy rating on shares of Scholar Rock (NASDAQ:SRRK - Free Report) in a research report released on Wednesday morning, Benzinga reports. They currently have a $20.00 target price on the stock.

A number of other equities research analysts also recently issued reports on the stock. Wedbush reissued an outperform rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Tuesday, January 23rd. Piper Sandler reissued an overweight rating and set a $28.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 26th. HC Wainwright reaffirmed a buy rating and issued a $30.00 target price on shares of Scholar Rock in a report on Tuesday, March 19th. Finally, Raymond James started coverage on shares of Scholar Rock in a report on Thursday, March 28th. They issued a strong-buy rating and a $30.00 target price for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Scholar Rock currently has an average rating of Buy and a consensus target price of $25.17.

Scholar Rock Stock Performance

Shares of SRRK stock traded down $0.49 during mid-day trading on Wednesday, reaching $15.23. 672,821 shares of the company's stock traded hands, compared to its average volume of 826,288. Scholar Rock has a 12 month low of $5.56 and a 12 month high of $21.17. The firm has a 50 day moving average price of $15.70 and a two-hundred day moving average price of $13.69. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.80 and a current ratio of 8.80. The firm has a market capitalization of $1.19 billion, a PE ratio of -7.65 and a beta of 0.90.

Insider Buying and Selling

In other Scholar Rock news, insider Mo Qatanani sold 2,512 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $39,538.88. Following the sale, the insider now owns 147,019 shares in the company, valued at approximately $2,314,079.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Scholar Rock news, insider Mo Qatanani sold 2,512 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $39,538.88. Following the sale, the insider now owns 147,019 shares in the company, valued at approximately $2,314,079.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jay T. Backstrom sold 11,614 shares of the business'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 $182,804.36. Following the completion of the sale, the chief executive officer now owns 352,671 shares in the company, valued at approximately $5,551,041.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,844 shares of company stock valued at $534,887. Company insiders own 26.20% of the company's stock.

Institutional Trading of Scholar Rock

Several hedge funds have recently made changes to their positions in the business. Amalgamated Bank raised its position 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 in the last quarter. Legal & General Group Plc raised its position in Scholar Rock by 8.1% in the 4th quarter. Legal & General Group Plc now owns 14,265 shares of the company's stock worth $129,000 after purchasing an additional 1,072 shares during the period. Alps Advisors Inc. raised its position in Scholar Rock by 4.1% in the 3rd quarter. Alps Advisors Inc. now owns 41,535 shares of the company's stock worth $295,000 after purchasing an additional 1,628 shares during the period. California State Teachers Retirement System raised its position in Scholar Rock by 4.2% in the 3rd quarter. California State Teachers Retirement System now owns 43,175 shares of the company's stock worth $307,000 after purchasing an additional 1,730 shares during the period. Finally, Rhumbline Advisers raised its position in Scholar Rock by 7.0% in the 1st quarter. Rhumbline Advisers now owns 29,405 shares of the company's stock worth $379,000 after purchasing an additional 1,918 shares during the period. 91.08% of the stock is currently owned by hedge funds and other 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.