Scholar Rock (NASDAQ:SRRK) Rating Reiterated by Piper Sandler

Piper Sandler restated their overweight rating on shares of Scholar Rock (NASDAQ:SRRK) in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $28.00 target price on the stock.

SRRK has been the topic of several other research reports. Truist Financial reaffirmed a buy rating and issued a $20.00 price target on shares of Scholar Rock in a report on Monday, March 25th. HC Wainwright reaffirmed a buy rating and issued a $30.00 price target on shares of Scholar Rock in a report on Tuesday, March 19th. Finally, Wedbush reaffirmed an outperform rating and issued a $23.00 price target on shares of Scholar Rock in a report on Tuesday, January 23rd. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Scholar Rock presently has an average rating of Buy and a consensus price target of $25.17.

Scholar Rock Price Performance

NASDAQ SRRK opened at $17.76 on Tuesday. The stock has a market capitalization of $1.38 billion, a P/E ratio of -8.92 and a beta of 0.89. Scholar Rock has a 1 year low of $5.56 and a 1 year high of $21.17. The business’s fifty day moving average is $15.64 and its two-hundred day moving average is $13.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.80 and a current ratio of 8.80.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, SVP Mo Qatanani sold 2,002 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total transaction of $31,891.86. Following the sale, the senior vice president now directly owns 78,816 shares of the company’s stock, valued at approximately $1,255,538.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Edward H. Myles sold 6,634 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total value of $105,679.62. Following the transaction, the chief financial officer now directly owns 162,150 shares of the company’s stock, valued at $2,583,049.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mo Qatanani sold 2,002 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $15.93, for a total transaction of $31,891.86. Following the completion of the transaction, the senior vice president now directly owns 78,816 shares in the company, valued at $1,255,538.88. The disclosure for this sale can be found here. Insiders have sold a total of 33,844 shares of company stock valued at $534,887 in the last three months. 26.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently modified their holdings of the stock. Swiss National Bank increased its position in Scholar Rock by 9.3% during the first quarter. Swiss National Bank now owns 54,000 shares of the company’s stock worth $696,000 after buying an additional 4,600 shares during the last quarter. MetLife Investment Management LLC increased its position in Scholar Rock by 54.1% during the first quarter. MetLife Investment Management LLC now owns 16,604 shares of the company’s stock worth $214,000 after buying an additional 5,832 shares during the last quarter. Rhumbline Advisers increased its position in Scholar Rock by 7.0% during the first quarter. Rhumbline Advisers now owns 29,405 shares of the company’s stock worth $379,000 after buying an additional 1,918 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Scholar Rock by 23.8% during the first quarter. Dimensional Fund Advisors LP now owns 178,984 shares of the company’s stock worth $2,307,000 after buying an additional 34,416 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Scholar Rock by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,490,795 shares of the company’s stock worth $19,217,000 after buying an additional 38,917 shares during the last quarter. 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.