Forged upper and lower. Actual price should be lower than msrp.
According to their web page, it looks like there are 2 versions.
The standard version appears to have a dedicated poly lower, and poly upper. I don't think that could top the M&P 15-22.
https://www.rockriverarms.com/index.cfm?fuseaction=category.display&category_ID=1910
The higher end one has a nice stock, different handguard, and a forged upper and MULTI-CALIBER lower, which is something that stood out to me. I am seriously considering one if I can navigate the magazine situation.
https://www.rockriverarms.com/index.cfm?fuseaction=category.display&category_ID=1909