Scholar Rock (NASDAQ:SRRK) Trading Down 5.2%

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price was down 5.2% during mid-day trading on Tuesday . The stock traded as low as $13.96 and last traded at $14.27. Approximately 129,190 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 763,442 shares. The stock had previously closed at $15.06.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SRRK shares. Raymond James started coverage on Scholar Rock in a research report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a research report on Tuesday, March 19th. Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 26th. Wedbush reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Tuesday. Finally, Truist Financial reaffirmed a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $25.17.

Scholar Rock Trading Down 2.5 %

The stock has a fifty day moving average of $15.24 and a 200 day moving average of $14.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.80 and a current ratio of 8.80. The company has a market capitalization of $1.17 billion, a PE ratio of -7.16 and a beta of 0.94.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). As a group, sell-side analysts predict that Scholar Rock Holding Co. will post -2.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Junlin Ho sold 3,489 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $54,916.86. Following the transaction, the general counsel now directly owns 208,771 shares of the company’s stock, valued at approximately $3,286,055.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Scholar Rock news, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $54,916.86. Following the sale, the general counsel now owns 208,771 shares of the company’s stock, valued at approximately $3,286,055.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jay T. Backstrom sold 11,614 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $182,804.36. Following the completion of the sale, the chief executive officer now directly owns 352,671 shares in the company, valued at approximately $5,551,041.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,359 shares of company stock valued at $351,931. Corporate insiders own 26.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Scholar Rock during the 1st quarter worth $945,000. Jennison Associates LLC grew its position in shares of Scholar Rock by 1.0% during the 1st quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock worth $2,459,000 after buying an additional 1,409 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Scholar Rock during the 1st quarter worth $383,000. China Universal Asset Management Co. Ltd. grew its position in shares of Scholar Rock by 66.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,868 shares of the company’s stock worth $246,000 after buying an additional 5,522 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Scholar Rock during the 4th quarter worth $1,347,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.