Wedbush Reiterates “Outperform” Rating for Scholar Rock (NASDAQ:SRRK)

Wedbush reiterated their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report issued on Tuesday morning,RTT News reports. The firm currently has a $50.00 target price on the stock.

SRRK has been the topic of several other reports. HC Wainwright boosted their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial boosted their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $40.86.

Scholar Rock Stock Down 1.6 %

Shares of NASDAQ:SRRK opened at $33.28 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The company has a market capitalization of $3.15 billion, a PE ratio of -14.16 and a beta of 0.59. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98. The company’s fifty day moving average is $38.40 and its 200-day moving average is $32.72.

Insider Buying and Selling at Scholar Rock

In other news, CEO Jay T. Backstrom sold 22,308 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $986,013.60. Following the transaction, the chief executive officer now owns 330,363 shares of the company’s stock, valued at $14,602,044.60. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Edward H. Myles sold 12,539 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $554,223.80. Following the completion of the sale, the chief financial officer now owns 148,549 shares of the company’s stock, valued at approximately $6,565,865.80. The trade was a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 299,772 shares of company stock worth $11,245,798. Insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of Scholar Rock by 763.8% in the 4th quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company’s stock worth $74,581,000 after purchasing an additional 1,525,845 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Scholar Rock by 30.1% during the fourth quarter. California State Teachers Retirement System now owns 56,269 shares of the company’s stock worth $2,432,000 after buying an additional 13,015 shares during the last quarter. Mackenzie Financial Corp bought a new position in Scholar Rock during the fourth quarter worth about $212,000. GF Fund Management CO. LTD. acquired a new position in shares of Scholar Rock during the 4th quarter worth about $85,000. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in shares of Scholar Rock in the 4th quarter valued at about $16,680,000. Institutional investors and hedge funds 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.