Scholar Rock (NASDAQ:SRRK) Trading Down 4.3% – Here’s Why

Scholar Rock Holding Co. (NASDAQ:SRRK) fell 4.3% on Friday . The company 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.

Analysts Set New Price Targets

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

Scholar Rock Stock Performance

The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $4.17 billion, a P/E ratio of -18.95 and a beta of 0.52. The firm’s 50-day moving average is $40.69 and its two-hundred day moving average is $23.90.

Insider Buying and Selling

In other Scholar Rock news, insider Jing L. Marantz sold 5,655 shares of Scholar Rock stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value 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. The trade was a 7.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the completion of the sale, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at approximately $14,602,044.60. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 458,974 shares of company stock worth $17,948,788. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently modified their holdings of SRRK. Renaissance Technologies LLC bought a new stake in shares of Scholar Rock during the second quarter valued at approximately $769,000. Hsbc Holdings PLC bought a new position in Scholar Rock during the 2nd quarter worth about $100,000. Marshall Wace LLP raised its position in Scholar Rock by 1,051.3% in the 2nd quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock valued at $4,059,000 after buying an additional 444,961 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Scholar Rock in the second quarter valued at approximately $103,000. Finally, Cubist Systematic Strategies LLC increased its stake in Scholar Rock by 151.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 439,557 shares of the company’s stock valued at $3,662,000 after buying an additional 264,581 shares during the last quarter. Institutional investors 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.