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

Wedbush reaffirmed their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report published on Wednesday morning,RTT News reports. The brokerage currently has a $50.00 price objective on the stock.

Separately, Lifesci Capital upgraded Scholar Rock to a “strong-buy” rating in a research note on Tuesday, June 3rd. Six equities research 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.67.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $34.04 on Wednesday. The company has a current ratio of 10.25, a quick ratio of 10.25 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $31.65 and its 200 day moving average price is $36.04. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98. The stock has a market cap of $3.23 billion, a price-to-earnings 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 the consensus estimate of ($0.63) by ($0.04). During the same quarter in the previous year, the business earned ($0.59) EPS. As a group, research analysts forecast that Scholar Rock will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Tracey Sacco sold 5,000 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $32.83, for a total transaction of $164,150.00. Following the transaction, the insider now owns 71,750 shares in the company, valued at approximately $2,355,552.50. The trade was a 6.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey S. Flier sold 6,075 shares of Scholar Rock stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $29.73, for a total transaction of $180,609.75. Following the transaction, the director now directly owns 24,070 shares of the company’s stock, valued at $715,601.10. This represents a 20.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,500 shares of company stock worth $1,181,671. Insiders own 13.30% of the company’s stock.

Institutional Trading of Scholar Rock

Large investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Scholar Rock by 33.7% in the 4th quarter. FMR LLC now owns 13,635,261 shares of the company’s stock valued at $589,316,000 after buying an additional 3,439,215 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Scholar Rock by 7.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company’s stock valued at $401,231,000 after acquiring an additional 629,315 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Scholar Rock by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company’s stock worth $155,773,000 after purchasing an additional 101,723 shares in the last quarter. Marshall Wace LLP lifted its position in Scholar Rock by 1,283.7% during the fourth quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock worth $127,301,000 after purchasing an additional 2,732,546 shares during the period. Finally, Bellevue Group AG raised its position in shares of Scholar Rock by 16.2% in the 4th quarter. Bellevue Group AG now owns 2,510,690 shares of the company’s stock valued at $108,512,000 after buying an additional 349,487 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

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.