Scholar Rock’s (SRRK) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a research report released on Wednesday morning,RTT News reports. They currently have a $50.00 target price on the stock.

Separately, Lifesci Capital raised Scholar Rock to a “strong-buy” rating in a report on Tuesday, June 3rd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Scholar Rock has a consensus rating of “Buy” and an average price target of $42.67.

Scholar Rock Stock Down 6.3%

Shares of NASDAQ:SRRK opened at $34.04 on Wednesday. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.25 and a quick ratio of 10.25. The stock’s 50-day moving average is $31.65 and its 200 day moving average is $36.04. The company has a market cap of $3.23 billion, a PE ratio of -13.45 and a beta of 0.28.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04). During the same quarter in the previous year, the company earned ($0.59) EPS. Sell-side analysts anticipate that Scholar Rock will post -2.42 EPS for the current year.

Insider Transactions at Scholar Rock

In related news, insider Tracey Sacco sold 6,500 shares of Scholar Rock stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the sale, the insider now owns 71,750 shares in the company, valued at approximately $2,373,490. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Akshay Vaishnaw sold 6,750 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the transaction, the insider now directly owns 616,205 shares in the company, valued at approximately $18,313,612.60. The trade was a 1.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,500 shares of company stock worth $1,181,671. Insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company’s stock worth $589,316,000 after buying an additional 3,439,215 shares during the last quarter. Marshall Wace LLP grew its stake in Scholar Rock by 1,283.7% during the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock worth $127,301,000 after buying an additional 2,732,546 shares during the last quarter. Norges Bank acquired a new stake in shares of Scholar Rock in the fourth quarter valued at approximately $86,043,000. Fairmount Funds Management LLC acquired a new position in shares of Scholar Rock in the 4th quarter valued at $84,839,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Scholar Rock during the fourth quarter worth about $68,930,000. 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.