Scholar Rock (NASDAQ:SRRK) Stock Price Down 4.8%

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) were down 4.8% on Wednesday . The stock traded as low as $7.64 and last traded at $7.68. Approximately 164,049 shares changed hands during trading, a decline of 80% from the average daily volume of 833,251 shares. The stock had previously closed at $8.07.

Wall Street Analyst Weigh In

SRRK has been the topic of several research reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research report on Tuesday. Raymond James initiated coverage on Scholar Rock in a report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price target on the stock. BMO Capital Markets boosted their target price on Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $26.00.

Scholar Rock Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 6.58 and a quick ratio of 6.58. The business has a 50 day moving average price of $11.57 and a 200 day moving average price of $14.52.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the prior year, the company posted ($0.46) EPS. Analysts anticipate that Scholar Rock Holding Co. will post -2.4 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Junlin Ho sold 4,695 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the transaction, the general counsel now directly owns 204,076 shares of the company’s stock, valued at approximately $1,832,602.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Edward H. Myles sold 9,458 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $8.98, for a total value of $84,932.84. Following the transaction, the chief financial officer now directly owns 201,518 shares of the company’s stock, valued at approximately $1,809,631.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Junlin Ho sold 4,695 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the sale, the general counsel now directly owns 204,076 shares of the company’s stock, valued at $1,832,602.48. The disclosure for this sale can be found here. Insiders have sold 16,468 shares of company stock worth $147,883 over the last 90 days. Corporate insiders own 26.20% of the company’s stock.

Institutional Trading of Scholar Rock

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in shares of Scholar Rock by 30.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 394,138 shares of the company’s stock worth $7,410,000 after purchasing an additional 91,754 shares in the last quarter. Rafferty Asset Management LLC bought a new position in Scholar Rock in the fourth quarter valued at about $2,025,000. Pathway Capital Management LP acquired a new stake in Scholar Rock in the fourth quarter worth about $1,220,000. abrdn plc acquired a new position in Scholar Rock during the 4th quarter valued at about $3,177,000. Finally, Jennison Associates LLC acquired a new stake in shares of Scholar Rock during the 4th quarter worth approximately $2,577,000. Institutional investors 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.