Scholar Rock (NASDAQ:SRRK) Trading Down 3.2%

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price dropped 3.2% on Tuesday . The company traded as low as $15.50 and last traded at $15.50. Approximately 78,459 shares changed hands during trading, a decline of 90% from the average daily volume of 801,052 shares. The stock had previously closed at $16.01.

Wall Street Analysts Forecast Growth

SRRK has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a report on Tuesday. Wedbush reiterated an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Tuesday, January 23rd. Raymond James initiated coverage on shares of Scholar Rock in a research report on Thursday. They set a “strong-buy” rating and a $30.00 price objective for the company. Truist Financial restated a “buy” rating and issued a $20.00 price target on shares of Scholar Rock in a research report on Monday. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research report on Tuesday, March 19th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $25.17.

Scholar Rock Stock Performance

The firm has a market capitalization of $1.38 billion, a P/E ratio of -8.92 and a beta of 0.89. The company’s 50 day moving average is $15.55 and its 200-day moving average is $13.32. The company has a quick ratio of 8.80, a current ratio of 8.80 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, SVP Mo Qatanani sold 2,002 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total value of $31,891.86. Following the transaction, the senior vice president now directly owns 78,816 shares of the company’s stock, valued at $1,255,538.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Edward H. Myles sold 12,459 shares of the firm’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $18.83, for a total transaction of $234,602.97. Following the transaction, the chief financial officer now directly owns 168,784 shares of the company’s stock, valued at $3,178,202.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mo Qatanani sold 2,002 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total transaction of $31,891.86. Following the transaction, the senior vice president now directly owns 78,816 shares in the company, valued at $1,255,538.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,303 shares of company stock valued at $769,490. Corporate insiders own 26.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of large investors have recently added to or reduced their stakes in SRRK. Barclays PLC increased its stake in shares of Scholar Rock by 62.3% in the third quarter. Barclays PLC now owns 32,318 shares of the company’s stock worth $230,000 after purchasing an additional 12,409 shares in the last quarter. Polar Capital Holdings Plc purchased a new position in shares of Scholar Rock in the third quarter worth about $10,664,000. Alps Advisors Inc. increased its stake in shares of Scholar Rock by 4.1% in the third quarter. Alps Advisors Inc. now owns 41,535 shares of the company’s stock worth $295,000 after purchasing an additional 1,628 shares in the last quarter. FMR LLC increased its stake in shares of Scholar Rock by 3.8% in the third quarter. FMR LLC now owns 8,005,654 shares of the company’s stock worth $56,840,000 after purchasing an additional 291,156 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Scholar Rock in the third quarter worth about $153,000. Hedge funds and other 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.