Scholar Rock (NASDAQ:SRRK) Shares Down 5.1%

Scholar Rock Holding Co. (NASDAQ:SRRK) dropped 5.1% on Tuesday . The stock traded as low as $8.94 and last traded at $8.94. Approximately 123,913 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 817,047 shares. The stock had previously closed at $9.42.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SRRK. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a report on Tuesday, June 25th. BMO Capital Markets lifted their price objective on shares of Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Wedbush restated an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a research note on Thursday, August 8th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and an average target price of $26.43.

Scholar Rock Stock Down 3.8 %

The firm has a market cap of $722.57 million, a price-to-earnings ratio of -4.28 and a beta of 0.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.04 and a quick ratio of 6.04. The firm’s fifty day moving average is $8.73 and its two-hundred day moving average is $12.13.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same quarter last year, the business earned ($0.47) earnings per share. On average, sell-side analysts expect that Scholar Rock Holding Co. will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In related news, General Counsel Junlin Ho sold 4,695 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the transaction, the general counsel now owns 204,076 shares of the company’s stock, valued at $1,832,602.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Junlin Ho sold 4,695 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the sale, the general counsel now directly owns 204,076 shares in the company, valued at approximately $1,832,602.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward H. Myles sold 9,458 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $84,932.84. Following the sale, the chief financial officer now owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,919 shares of company stock valued at $161,420. 26.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently modified their holdings of the stock. Amalgamated Bank lifted its position in shares of Scholar Rock by 15.5% in the 4th quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after acquiring an additional 652 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Scholar Rock during the 2nd quarter worth approximately $98,000. Hsbc Holdings PLC purchased a new stake in shares of Scholar Rock in the second quarter valued at $100,000. Point72 DIFC Ltd purchased a new stake in shares of Scholar Rock in the second quarter valued at $103,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Scholar Rock in the second quarter worth $135,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Company Profile

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.