Scholar Rock (NASDAQ:SRRK) Price Target Raised to $45.00 at Truist Financial

Scholar Rock (NASDAQ:SRRK) had its target price raised by Truist Financial from $36.00 to $45.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

SRRK has been the subject of several other research reports. BMO Capital Markets increased their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. HC Wainwright increased their price objective on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Piper Sandler upped their target price on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Wedbush reissued an “outperform” rating and issued a $37.00 target price on shares of Scholar Rock in a research report on Monday, November 4th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $39.00.

Scholar Rock Stock Performance

Shares of SRRK opened at $37.72 on Monday. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $43.38. The stock has a fifty day moving average price of $23.12 and a 200-day moving average price of $14.21. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.53 billion, a PE ratio of -16.05 and a beta of 0.47.

Insider Activity at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the sale, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This trade represents a 56.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the sale, the director now directly owns 5,612,896 shares in the company, valued at $164,177,208. This represents a 17.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,413,889 shares of company stock valued at $40,652,551 in the last ninety days. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its position in Scholar Rock by 95.5% during the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after purchasing an additional 119,363 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Scholar Rock during the 2nd quarter worth about $6,223,000. Kennedy Capital Management LLC purchased a new stake in shares of Scholar Rock during the 1st quarter worth about $4,900,000. Vanguard Group Inc. boosted its stake in shares of Scholar Rock by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after acquiring an additional 114,550 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Scholar Rock during the 3rd quarter worth about $1,093,000. 91.08% of the stock is owned by institutional investors and hedge funds.

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.