Scholar Rock (NASDAQ:SRRK) Trading Down 4.6% – What’s Next?

Scholar Rock Holding Co. (NASDAQ:SRRK) shares fell 4.6% during mid-day trading on Thursday . The company traded as low as $40.62 and last traded at $40.59. 481,118 shares were traded during trading, a decline of 50% from the average session volume of 969,946 shares. The stock had previously closed at $42.56.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SRRK. Piper Sandler raised their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Truist Financial lifted their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. BMO Capital Markets increased their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Finally, Wedbush restated an “outperform” rating and issued a $47.00 price target on shares of Scholar Rock in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Scholar Rock presently has a consensus rating of “Buy” and an average price target of $40.43.

Scholar Rock Stock Down 5.1 %

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 $3.78 billion, a price-to-earnings ratio of -17.19 and a beta of 0.52. The firm’s fifty day moving average price is $41.94 and its 200-day moving average price is $24.97.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 last quarter. Quarry LP raised its holdings in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after acquiring an additional 4,373 shares during the period. Nisa Investment Advisors LLC boosted its stake in Scholar Rock by 1,321.8% in 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 period. Finally, Hsbc Holdings PLC bought a new stake in Scholar Rock in the 2nd quarter valued at about $100,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.