Scholar Rock Holding Co. (NASDAQ:SRRK) Receives Average Recommendation of “Buy” from Brokerages

Scholar Rock Holding Co. (NASDAQ:SRRK) has been given a consensus rating of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $42.67.

Separately, Wedbush restated an “outperform” rating and set a $50.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 25th.

Insider Transactions at Scholar Rock

In other news, CEO Jay T. Backstrom sold 18,372 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $676,640.76. Following the sale, the chief executive officer now directly owns 311,991 shares in the company, valued at approximately $11,490,628.53. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 7,809 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total transaction of $287,605.47. Following the completion of the transaction, the chief financial officer now owns 140,740 shares of the company’s stock, valued at approximately $5,183,454.20. This trade represents a 5.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,231 shares of company stock worth $9,220,236. Corporate insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after purchasing an additional 84,118 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock valued at $205,013,000 after buying an additional 708,817 shares during the period. Principal Financial Group Inc. bought a new position in shares of Scholar Rock during the fourth quarter worth about $274,000. Rhumbline Advisers lifted its stake in shares of Scholar Rock by 13.2% in the fourth quarter. Rhumbline Advisers now owns 113,261 shares of the company’s stock worth $4,895,000 after acquiring an additional 13,247 shares during the period. Finally, Handelsbanken Fonder AB acquired a new stake in Scholar Rock during the 4th quarter valued at approximately $942,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Stock Down 0.5 %

NASDAQ SRRK opened at $32.76 on Friday. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The business has a fifty day moving average price of $32.33 and a two-hundred day moving average price of $35.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a market capitalization of $3.11 billion, a PE ratio of -13.94 and a beta of 0.56.

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.