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

Scholar Rock (NASDAQ:SRRK - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Wedbush in a research note issued to investors on Tuesday, RTT News reports. They currently have a $23.00 target price on the stock. Wedbush's price objective points to a potential upside of 56.57% from the company's previous close.

SRRK has been the topic of several other reports. HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of Scholar Rock in a research note on Tuesday, March 19th. 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 price objective for the company. Piper Sandler reiterated an "overweight" rating and issued a $28.00 price target on shares of Scholar Rock in a research report on Tuesday, March 26th. Finally, Truist Financial reissued a "buy" rating and set a $20.00 price objective on shares of Scholar Rock in a report on Wednesday, April 3rd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $25.17.

Scholar Rock Stock Down 2.5 %

SRRK traded down $0.37 during trading on Tuesday, hitting $14.69. 587,922 shares of the company's stock were exchanged, compared to its average volume of 768,773. The company has a quick ratio of 8.80, a current ratio of 8.80 and a debt-to-equity ratio of 0.22. Scholar Rock has a fifty-two week low of $5.56 and a fifty-two week high of $21.17. The stock has a market cap of $1.17 billion, a P/E ratio of -7.16 and a beta of 0.94. The business's 50 day moving average is $15.24 and its two-hundred day moving average is $14.90.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.01). As a group, equities analysts expect that Scholar Rock will post -2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In other news, insider Mo Qatanani sold 2,512 shares of the firm's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the transaction, the insider now owns 147,019 shares of the company's stock, valued at $2,314,079.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $54,916.86. Following the completion of the transaction, the general counsel now owns 208,771 shares in the company, valued at $3,286,055.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mo Qatanani sold 2,512 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 22,359 shares of company stock worth $351,931 in the last three months. 26.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Amalgamated Bank increased its holdings in Scholar Rock by 52.8% in the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company's stock worth $30,000 after buying an additional 1,458 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Scholar Rock by 479.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company's stock worth $157,000 after acquiring an additional 6,905 shares during the period. Spire Wealth Management acquired a new position in Scholar Rock in the fourth quarter valued at approximately $178,000. Silverarc Capital Management LLC purchased a new stake in Scholar Rock in the 3rd quarter worth approximately $69,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Scholar Rock during the 3rd quarter valued at approximately $88,000. Hedge funds and other institutional investors 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.