Scholar Rock (NASDAQ:SRRK) Shares Down 5.5% – Time to Sell?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price was down 5.5% during trading on Tuesday . The stock traded as low as $30.75 and last traded at $30.38. Approximately 976,933 shares changed hands during trading, a decline of 17% from the average daily volume of 1,172,661 shares. The stock had previously closed at $32.15.

Analyst Ratings Changes

Separately, Wedbush reissued an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research note on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $42.67.

Scholar Rock Trading Down 6.0 %

The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $2.86 billion, a PE ratio of -12.86 and a beta of 0.59. The business’s 50-day simple moving average is $37.52 and its 200-day simple moving average is $33.40.

Insider Activity at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 12,539 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $554,223.80. Following the completion of the transaction, the chief financial officer now owns 148,549 shares in the company, valued at approximately $6,565,865.80. This represents a 7.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tracey Sacco sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the sale, the insider now directly owns 71,750 shares of the company’s stock, valued at approximately $2,373,490. The trade was a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 299,772 shares of company stock valued at $11,245,798 in the last 90 days. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the period. Quarry LP boosted its stake in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after acquiring an additional 766 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Scholar Rock during the 4th quarter valued at approximately $85,000. 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.