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

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) gapped down prior to trading on Wednesday . The stock had previously closed at $42.34, but opened at $41.22. Scholar Rock shares last traded at $41.97, with a volume of 163,738 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SRRK. BMO Capital Markets increased their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Wedbush reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Scholar Rock in a research note on Thursday, January 9th. Piper Sandler raised their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial boosted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, HC Wainwright increased their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Stock Performance

The firm has a market cap of $4.06 billion, a PE ratio of -18.45 and a beta of 0.52. 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 stock’s 50 day moving average price is $41.64 and its 200 day moving average price is $24.85.

Insiders Place Their Bets

In other Scholar Rock news, General Counsel Junlin Ho sold 9,039 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $399,523.80. Following the completion of the transaction, the general counsel now directly owns 195,037 shares of the company’s stock, valued at $8,620,635.40. This represents a 4.43 % decrease in their position. The transaction 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 Scholar Rock stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the sale, the chief executive officer now directly owns 330,363 shares in the company, valued at approximately $14,602,044.60. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 458,974 shares of company stock worth $17,948,788 over the last quarter. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently bought and sold shares of SRRK. Wellington Management Group LLP grew its position in shares of Scholar Rock by 16.2% during the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after buying an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Scholar Rock by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock worth $4,027,000 after acquiring an additional 42,139 shares in the last quarter. Barclays PLC raised its stake in shares of Scholar Rock by 103.4% in the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock valued at $1,324,000 after purchasing an additional 84,118 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Scholar Rock during the second quarter worth about $6,223,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Scholar Rock by 7.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock worth $759,000 after purchasing an additional 6,269 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

About Scholar Rock

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.