Scholar Rock (NASDAQ:SRRK) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a research report sent to investors on Tuesday morning,Benzinga reports. Wedbush currently has a $58.00 price target on the stock.

SRRK has been the subject of several other reports. Barclays increased their price target on shares of Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Canaccord Genuity Group began coverage on Scholar Rock in a report on Monday, April 20th. They issued a “buy” rating and a $62.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Scholar Rock in a research note on Thursday, June 18th. Finally, HC Wainwright raised their price target on Scholar Rock from $58.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Scholar Rock currently has an average rating of “Buy” and an average target price of $56.00.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $50.88 on Tuesday. The stock has a fifty day moving average price of $50.13 and a 200 day moving average price of $47.40. Scholar Rock has a 1-year low of $27.07 and a 1-year high of $58.49. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.64 and a quick ratio of 8.64. The company has a market cap of $6.10 billion, a PE ratio of -14.17 and a beta of 0.67.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same period in the prior year, the business posted ($0.67) EPS. Sell-side analysts forecast that Scholar Rock will post -3.23 EPS for the current year.

Insider Buying and Selling

In other news, Director Jeffrey S. Flier sold 3,053 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $164,495.64. Following the sale, the director owned 27,856 shares of the company’s stock, valued at $1,500,881.28. The trade was a 9.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katie Peng sold 5,446 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total value of $293,430.48. Following the sale, the director directly owned 34,301 shares in the company, valued at $1,848,137.88. This trade represents a 13.70% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 17,149 shares of company stock valued at $923,108 in the last 90 days. 10.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently bought and sold shares of SRRK. E. Ohman J or Asset Management AB boosted its position in Scholar Rock by 5.3% during the second quarter. E. Ohman J or Asset Management AB now owns 23,309 shares of the company’s stock worth $1,282,000 after purchasing an additional 1,173 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Scholar Rock by 37.0% in the second quarter. Handelsbanken Fonder AB now owns 32,200 shares of the company’s stock valued at $1,771,000 after buying an additional 8,700 shares in the last quarter. StoneCrest Wealth Management Inc. increased its position in shares of Scholar Rock by 11.1% in the second quarter. StoneCrest Wealth Management Inc. now owns 78,780 shares of the company’s stock valued at $4,333,000 after buying an additional 7,866 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Scholar Rock by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock worth $77,000 after buying an additional 242 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Scholar Rock by 27.2% during the 1st quarter. Bank of America Corp DE now owns 1,336,632 shares of the company’s stock worth $65,709,000 after buying an additional 286,126 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

About Scholar Rock

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).