Weiss Ratings Reaffirms "Sell (D-)" Rating for Scholar Rock (NASDAQ:SRRK)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Scholar Rock (NASDAQ:SRRK) amidst mixed reviews from other brokerages, which have varying ratings and target prices for the stock.
• Scholar Rock's stock opened at $38.69 and has experienced significant fluctuations, with a 12-month low of $22.71 and a high of $46.98.
• Insider activity includes Director Srinivas Akkaraju purchasing 113,025 shares at approximately $38.65 per share, suggesting confidence in the company's future.

Scholar Rock (NASDAQ:SRRK - Get Free Report)'s stock had its "sell (d-)" rating reissued by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also issued reports on SRRK. BMO Capital Markets dropped their target price on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Leerink Partnrs raised shares of Scholar Rock to a "strong-buy" rating in a research report on Monday, September 15th. Barclays dropped their target price on shares of Scholar Rock from $45.00 to $44.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 24th. HC Wainwright dropped their target price on shares of 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, Raymond James Financial set a $53.00 target price on shares of Scholar Rock and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of "Buy" and a consensus price target of $46.40.

Scholar Rock Trading Down 2.1%

NASDAQ:SRRK opened at $38.69 on Wednesday. Scholar Rock has a 12 month low of $22.71 and a 12 month high of $46.98. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -13.30 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. The company's 50 day moving average is $33.92 and its 200-day moving average is $33.27.

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

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Srinivas Akkaraju purchased 113,025 shares of the firm's stock in a transaction on Monday, October 6th. The shares were purchased at an average price of $38.65 per share, for a total transaction of $4,368,416.25. Following the completion of the purchase, the director directly owned 500,439 shares of the company's stock, valued at approximately $19,341,967.35. This represents a 29.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey S. Flier sold 11,136 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $40.02, for a total transaction of $445,662.72. Following the completion of the sale, the director owned 24,070 shares in the company, valued at $963,281.40. This represents a 31.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,673 shares of company stock worth $687,751 over the last three months. 13.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans acquired a new stake in shares of Scholar Rock in the 2nd quarter valued at $639,000. Tower Research Capital LLC TRC boosted its stake in shares of Scholar Rock by 288.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,115 shares of the company's stock valued at $323,000 after purchasing an additional 6,768 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in shares of Scholar Rock by 6.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 11,146 shares of the company's stock valued at $395,000 after purchasing an additional 710 shares in the last quarter. Vestal Point Capital LP boosted its stake in shares of Scholar Rock by 15.4% in the 2nd quarter. Vestal Point Capital LP now owns 1,500,000 shares of the company's stock valued at $53,130,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Eventide Asset Management LLC boosted its stake in shares of Scholar Rock by 9.5% in the 2nd quarter. Eventide Asset Management LLC now owns 2,913,246 shares of the company's stock valued at $103,192,000 after purchasing an additional 251,638 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company's stock.

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.

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