Scholar Rock’s (SRRK) Outperform Rating Reaffirmed at Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating restated by Wedbush in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $58.00 price target on the stock. Wedbush’s price objective points to a potential upside of 14.06% from the stock’s previous close.

Several other equities research analysts have also commented on the company. HC Wainwright upped their price objective on Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. Canaccord Genuity Group assumed coverage on Scholar Rock in a research note on Monday, April 20th. They issued a “buy” rating and a $62.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a report on Friday. Finally, Barclays increased their price objective on shares of Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Four investment 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. Based on data from MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and an average price target of $56.00.

Scholar Rock Stock Performance

Shares of SRRK traded up $0.19 on Tuesday, reaching $50.85. The company’s stock had a trading volume of 32,285 shares, compared to its average volume of 1,365,138. The stock’s 50 day simple moving average is $50.09 and its two-hundred day simple moving average is $47.35. 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 stock has a market capitalization of $6.09 billion, a P/E ratio of -14.16 and a beta of 0.67. Scholar Rock has a 12-month low of $27.07 and a 12-month high of $58.49.

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

Insider Buying and Selling at Scholar Rock

In other news, Director Joshua Reed sold 3,053 shares of Scholar Rock stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total value of $164,068.22. Following the transaction, the director directly owned 19,518 shares in the company, valued at approximately $1,048,897.32. This trade represents a 13.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kristina Burow sold 3,053 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total value of $164,068.22. Following the sale, the director owned 114,657 shares of the company’s stock, valued at $6,161,667.18. This trade represents a 2.59% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 17,149 shares of company stock worth $923,108. 10.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after purchasing an additional 450 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Scholar Rock during the 4th quarter worth $30,000. Summit Securities Group LLC acquired a new position in Scholar Rock during the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its position in Scholar Rock by 151.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after buying an additional 525 shares in the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new stake in Scholar Rock in the fourth quarter valued at about $44,000. Institutional investors own 91.08% of the company’s stock.

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).