Wedbush Reaffirms "Outperform" Rating for Scholar Rock (NASDAQ:SRRK)

Wedbush reiterated their outperform rating on shares of Scholar Rock (NASDAQ:SRRK - Free Report) in a research report released on Wednesday morning,RTT News reports. They currently have a $50.00 price objective on the stock.

Separately, Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $42.67.

Scholar Rock Price Performance

Shares of Scholar Rock stock traded down $2.28 during midday trading on Wednesday, hitting $34.04. 3,219,790 shares of the company traded hands, compared to its average volume of 1,302,403. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -13.45 and a beta of 0.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.25 and a current ratio of 10.25. The firm's fifty day moving average price is $31.65 and its 200-day moving average price is $36.04. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period in the previous year, the business earned ($0.59) earnings per share. As a group, sell-side analysts forecast that Scholar Rock will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey S. Flier sold 6,075 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.73, for a total value of $180,609.75. Following the completion of the transaction, the director now directly owns 24,070 shares in the company, valued at $715,601.10. The trade was a 20.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tracey Sacco sold 6,500 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $33.08, for a total value of $215,020.00. Following the sale, the insider now directly owns 71,750 shares in the company, valued at $2,373,490. This trade represents a 8.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,500 shares of company stock valued at $1,181,671 in the last ninety days. Company insiders own 13.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Scholar Rock by 42.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company's stock worth $5,845,000 after acquiring an additional 40,436 shares in the last quarter. Vanguard Group Inc. raised its stake in Scholar Rock by 17.6% during the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after purchasing an additional 708,817 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Scholar Rock during the 4th quarter valued at about $274,000. GAMMA Investing LLC lifted its stake in shares of Scholar Rock by 3,824.9% in the 1st quarter. GAMMA Investing LLC now owns 30,928 shares of the company's stock valued at $962,000 after purchasing an additional 30,140 shares during the last quarter. Finally, Blackstone Inc. bought a new stake in Scholar Rock in the fourth quarter worth $910,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.