Scholar Rock (NASDAQ:SRRK) Shares Down 4.8%

Scholar Rock Holding Co. (NASDAQ:SRRK) shares fell 4.8% during mid-day trading on Wednesday . The company traded as low as $7.64 and last traded at $7.68. 164,049 shares traded hands during trading, a decline of 80% from the average session volume of 833,251 shares. The stock had previously closed at $8.07.

Analyst Upgrades and Downgrades

Several analysts recently commented on SRRK shares. Truist Financial reaffirmed a “buy” rating and set a $20.00 target price on shares of Scholar Rock in a report on Wednesday, April 3rd. Wedbush reiterated an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Tuesday, May 7th. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a research report on Tuesday. Raymond James began coverage on Scholar Rock in a research note on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $26.00.

Scholar Rock Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.58 and a current ratio of 6.58. The company has a 50-day simple moving average of $11.80 and a 200-day simple moving average of $14.61. The company has a market cap of $632.42 million, a price-to-earnings ratio of -3.76 and a beta of 0.80.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the prior year, the business posted ($0.46) earnings per share. As a group, research analysts predict that Scholar Rock Holding Co. will post -2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Junlin Ho sold 4,695 shares of the company’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 value of $42,161.10. Following the sale, the general counsel now owns 204,076 shares in the company, valued at approximately $1,832,602.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Junlin Ho sold 4,695 shares of the company’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 value of $42,161.10. Following the sale, the general counsel now owns 204,076 shares in the company, valued at approximately $1,832,602.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Edward H. Myles sold 9,458 shares of the company’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 value of $84,932.84. Following the completion of the sale, the chief financial officer now owns 201,518 shares in the company, valued at approximately $1,809,631.64. The disclosure for this sale can be found here. Insiders have sold a total of 16,468 shares of company stock worth $147,883 in the last quarter. Company insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Large investors have recently bought and sold shares of the stock. Amalgamated Bank raised 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 worth $92,000 after buying an additional 652 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Scholar Rock by 479.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock worth $157,000 after acquiring an additional 6,905 shares during the last quarter. Spire Wealth Management bought a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $178,000. Walleye Trading LLC bought a new stake in shares of Scholar Rock during the first quarter valued at approximately $178,000. Finally, Algert Global LLC raised its holdings in shares of Scholar Rock by 45.5% during the third quarter. Algert Global LLC now owns 26,920 shares of the company’s stock valued at $191,000 after buying an additional 8,420 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.