Scholar Rock (NASDAQ:SRRK) Now Covered by Analysts at Wolfe Research

Equities research analysts at Wolfe Research started coverage on shares of Scholar Rock (NASDAQ:SRRK) in a research note issued on Tuesday. The brokerage set an “outperform” rating and a $42.00 price target on the stock. Wolfe Research’s price objective would suggest a potential upside of 15.16% from the stock’s current price.

SRRK has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a report on Wednesday, October 8th. Leerink Partnrs raised shares of Scholar Rock to a “strong-buy” rating in a report on Monday, September 15th. Jefferies Financial Group initiated coverage on shares of Scholar Rock in a report on Thursday, August 21st. They issued a “buy” rating and a $50.00 target price for the company. HC Wainwright reduced their target price on shares of Scholar Rock from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, September 23rd. Finally, Piper Sandler reduced their price target on Scholar Rock from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.45.

Scholar Rock Trading Down 2.5%

Shares of Scholar Rock stock opened at $36.47 on Tuesday. Scholar Rock has a fifty-two week low of $22.71 and a fifty-two week high of $46.98. The company has a market cap of $3.51 billion, a P/E ratio of -12.53 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.33 and a current ratio of 6.33. The firm has a 50-day simple moving average of $32.55 and a two-hundred day simple moving average of $33.43.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). During the same period in the previous year, the business earned ($0.66) earnings per share. As a group, equities analysts predict that Scholar Rock will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mo Qatanani sold 3,353 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $30.67, for a total value of $102,836.51. Following the transaction, the insider directly owned 108,964 shares of the company’s stock, valued at approximately $3,341,925.88. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total transaction of $32,725.18. Following the transaction, the director owned 33,914 shares in the company, valued at approximately $1,103,222.42. This trade represents a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 7,537 shares of company stock worth $242,088. 13.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Scholar Rock by 124.5% during the third quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock valued at $169,289,000 after purchasing an additional 2,521,022 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Scholar Rock in the third quarter valued at $91,670,000. Vestal Point Capital LP acquired a new stake in Scholar Rock in the 1st quarter valued at about $41,795,000. Norges Bank bought a new position in Scholar Rock in the 2nd quarter worth approximately $41,628,000. Finally, RA Capital Management L.P. raised its position in shares of Scholar Rock by 6,351.3% during the first quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company’s stock worth $36,537,000 after acquiring an additional 1,118,837 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

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.