Scholar Rock (NASDAQ:SRRK) Shares Down 4.9%

Scholar Rock Holding Co. (NASDAQ:SRRK) shares fell 4.9% during mid-day trading on Tuesday . The stock traded as low as $7.73 and last traded at $7.73. 123,228 shares were traded during trading, a decline of 86% from the average session volume of 863,706 shares. The stock had previously closed at $8.13.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SRRK. BMO Capital Markets lifted their target price on Scholar Rock from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Truist Financial reissued a “buy” rating and set a $20.00 target price on shares of Scholar Rock in a research note on Wednesday, April 3rd. Piper Sandler reissued an “overweight” rating and set a $28.00 target price on shares of Scholar Rock in a research note on Tuesday, March 26th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Scholar Rock in a research note on Tuesday, June 25th. Finally, Wedbush reissued an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $26.00.

Scholar Rock Stock Performance

The company has a quick ratio of 6.58, a current ratio of 6.58 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $11.08 and a 200-day simple moving average of $14.19.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same period last year, the company earned ($0.46) earnings per share. On average, equities analysts expect that Scholar Rock Holding Co. will post -2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Scholar Rock news, CFO Edward H. Myles sold 9,458 shares of Scholar Rock 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 sale, the chief financial officer now owns 201,518 shares of the company’s stock, valued at approximately $1,809,631.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Junlin Ho sold 4,695 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 transaction of $42,161.10. Following the transaction, the general counsel now owns 204,076 shares of the company’s stock, valued at approximately $1,832,602.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 9,458 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were 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 in the company, valued at approximately $1,809,631.64. The disclosure for this sale can be found here. Insiders have sold a total of 16,468 shares of company stock valued at $147,883 in the last quarter. 26.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Scholar Rock

Several large investors have recently modified their holdings of SRRK. Amalgamated Bank increased its position in shares of Scholar Rock by 15.5% during the 4th quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after purchasing an additional 652 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Scholar Rock by 479.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock valued at $157,000 after purchasing an additional 6,905 shares during the last quarter. Spire Wealth Management purchased a new position in Scholar Rock during the 4th quarter valued at $178,000. Walleye Trading LLC purchased a new position in Scholar Rock during the 1st quarter valued at $178,000. Finally, Bayesian Capital Management LP purchased a new position in Scholar Rock during the 1st quarter valued at $258,000. 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.