Scholar Rock (NASDAQ:SRRK) Stock Price Down 4.3% – Should You Sell?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price traded down 4.3% during trading on Friday . The stock traded as low as $40.26 and last traded at $43.47. 320,665 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,015,529 shares. The stock had previously closed at $45.40.

Wall Street Analyst Weigh In

Several research firms have weighed in on SRRK. Wedbush reissued an “outperform” rating and issued a $47.00 price target on shares of Scholar Rock in a report on Thursday, January 9th. JPMorgan Chase & Co. raised their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. HC Wainwright raised their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler upped their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Scholar Rock presently has an average rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Stock Performance

The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of -18.95 and a beta of 0.52. The stock has a fifty day simple moving average of $40.69 and a two-hundred day simple moving average of $23.90. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Insider Activity

In related news, insider Jing L. Marantz sold 5,655 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $249,951.00. Following the transaction, the insider now directly owns 67,200 shares of the company’s stock, valued at $2,970,240. This trade represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the transaction, the insider now owns 10,850,005 shares in the company, valued at $417,616,692.45. The trade was a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,974 shares of company stock worth $17,948,788 in the last quarter. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Several large investors have recently made changes to their positions in SRRK. FMR LLC increased its holdings in Scholar Rock by 3.1% in the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after acquiring an additional 308,813 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after purchasing an additional 120,489 shares in the last quarter. Millennium Management LLC increased its stake in Scholar Rock by 159.2% in the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after acquiring an additional 568,512 shares during the last quarter. abrdn plc raised its stake in shares of Scholar Rock by 28.2% during the third quarter. abrdn plc now owns 748,489 shares of the company’s stock worth $5,995,000 after acquiring an additional 164,715 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in Scholar Rock during the 2nd quarter valued at about $6,223,000. 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.