Truist Financial Issues Pessimistic Forecast for Scholar Rock (NASDAQ:SRRK) Stock Price

Key Points

• Truist Financial has reduced its price target for Scholar Rock (NASDAQ:SRRK) from $54.00 to $44.00, while still maintaining a "buy" rating, indicating a potential upside of 57.56% from the previous close.
• Scholar Rock's shares recently traded at $27.93, with a market capitalization of $2.68 billion and a significant loss reported in its latest earnings with an EPS of ($0.98).
• Institutional investors currently own 91.08% of Scholar Rock, highlighting strong interest in the company's stock despite recent price adjustments from various analysts.

Scholar Rock (NASDAQ:SRRK - Get Free Report) had its price target reduced by investment analysts at Truist Financial from $54.00 to $44.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price points to a potential upside of 57.56% from the company's previous close.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group initiated coverage on Scholar Rock in a research report on Thursday, August 21st. They set a "buy" rating and a $50.00 price target on the stock. Leerink Partnrs upgraded Scholar Rock to a "strong-buy" rating in a research report on Monday, September 15th. Raymond James Financial set a $53.00 price target on Scholar Rock and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. HC Wainwright reduced their price target on Scholar Rock from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday, September 23rd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Scholar Rock in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Scholar Rock currently has a consensus rating of "Buy" and an average price target of $48.50.

Scholar Rock Price Performance

Shares of NASDAQ SRRK traded down $0.02 during trading hours on Monday, reaching $27.93. 1,465,065 shares of the stock traded hands, compared to its average volume of 1,579,386. The company has a market capitalization of $2.68 billion, a P/E ratio of -9.61 and a beta of 0.42. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock has a 52-week low of $22.71 and a 52-week high of $46.98. The company's 50-day simple moving average is $33.74 and its two-hundred day simple moving average is $33.35.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.32). During the same quarter in the prior year, the firm earned ($0.60) earnings per share. Equities research analysts forecast that Scholar Rock will post -2.42 EPS for the current year.

Insider Transactions at Scholar Rock

In other news, Director Katie Peng sold 1,006 shares of Scholar Rock stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total value of $32,725.18. Following the sale, the director directly owned 33,914 shares in the company, valued at approximately $1,103,222.42. This trade represents a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Srinivas Akkaraju acquired 113,025 shares of the business's stock in a transaction dated Monday, October 6th. The stock was acquired at an average price of $38.65 per share, for a total transaction of $4,368,416.25. Following the completion of the transaction, the director owned 500,439 shares in the company, valued at approximately $19,341,967.35. The trade was a 29.17% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 7,537 shares of company stock worth $242,088. 13.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Hedge funds have recently made changes to their positions in the company. CWM LLC boosted its position in shares of Scholar Rock by 152.8% during the first quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after purchasing an additional 602 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Scholar Rock during the first quarter valued at approximately $71,000. GF Fund Management CO. LTD. boosted its position in shares of Scholar Rock by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after purchasing an additional 430 shares in the last quarter. Strs Ohio bought a new stake in shares of Scholar Rock during the first quarter valued at approximately $77,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Scholar Rock during the second quarter valued at approximately $94,000. 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.

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