Scholar Rock (NASDAQ:SRRK) Stock Rating Upgraded by Lifesci Capital

Scholar Rock (NASDAQ:SRRK) was upgraded by equities research analysts at Lifesci Capital to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Wedbush reiterated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, May 14th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $42.67.

Scholar Rock Stock Down 0.4%

NASDAQ:SRRK opened at $30.82 on Tuesday. The stock’s fifty day moving average is $30.25 and its two-hundred day moving average is $36.05. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -13.11 and a beta of 0.37. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period last year, the business posted ($0.59) EPS. Research analysts anticipate that Scholar Rock will post -2.42 EPS for the current year.

Insider Transactions at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 142,292 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $35.62, for a total value of $5,068,441.04. Following the completion of the sale, the chief financial officer now owns 111,345 shares of the company’s stock, valued at $3,966,108.90. This trade represents a 56.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Akshay Vaishnaw sold 6,750 shares of the firm’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $200,610.00. Following the sale, the insider now owns 616,205 shares of the company’s stock, valued at $18,313,612.60. This represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,798 shares of company stock worth $6,284,738 in the last ninety days. Insiders own 13.30% of the company’s stock.

Institutional Trading of Scholar Rock

Several hedge funds and other institutional investors have recently bought and sold shares of SRRK. KBC Group NV bought a new stake in shares of Scholar Rock in the 4th quarter valued at approximately $131,000. Rhumbline Advisers boosted its holdings in 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 purchasing an additional 13,247 shares during the period. Principal Financial Group Inc. acquired a new position in Scholar Rock in the fourth quarter worth $274,000. New York State Common Retirement Fund increased its stake in Scholar Rock by 117.5% during the fourth quarter. New York State Common Retirement Fund now owns 22,586 shares of the company’s stock valued at $976,000 after purchasing an additional 12,200 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the period. 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.