Scholar Rock (NASDAQ:SRRK) Stock Price Down 5.1%

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price dropped 5.1% on Thursday . The stock traded as low as $8.25 and last traded at $8.25. Approximately 162,605 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 797,174 shares. The stock had previously closed at $8.69.

Wall Street Analysts Forecast Growth

SRRK has been the topic of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a research note on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, June 25th. Finally, BMO Capital Markets boosted their price target on shares of Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $26.43.

Scholar Rock Price Performance

The firm’s 50-day moving average price is $8.92 and its 200-day moving average price is $11.52. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $683.49 million, a PE ratio of -4.10 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter in the previous year, the firm earned ($0.47) EPS. On average, equities analysts forecast that Scholar Rock Holding Co. will post -2.39 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Scholar Rock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRRK. Swiss National Bank grew its stake in Scholar Rock by 17.3% in the 4th quarter. Swiss National Bank now owns 98,100 shares of the company’s stock worth $1,844,000 after acquiring an additional 14,500 shares in the last quarter. Amalgamated Bank grew its stake in Scholar Rock by 15.5% in the 4th quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock worth $92,000 after acquiring an additional 652 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Scholar Rock by 30.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 394,138 shares of the company’s stock worth $7,410,000 after acquiring an additional 91,754 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Scholar Rock by 616.8% in the 4th quarter. BNP Paribas Financial Markets now owns 48,372 shares of the company’s stock worth $909,000 after acquiring an additional 41,624 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Scholar Rock in the 4th quarter worth about $1,359,000. 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.