Scholar Rock (NASDAQ:SRRK) Shares Gap Down – What’s Next?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $39.77, but opened at $37.52. Scholar Rock shares last traded at $39.87, with a volume of 73,609 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on SRRK. Wedbush lifted their target price on shares of Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. upped their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. BMO Capital Markets raised their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. HC Wainwright boosted their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial increased their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $40.43.

Scholar Rock Stock Up 1.2 %

The firm’s 50-day moving average is $27.32 and its 200 day moving average is $15.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Insider Transactions at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the transaction, the insider now owns 10,850,005 shares in the company, valued at $417,616,692.45. This represents a 3.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the sale, the director now directly owns 5,612,896 shares in the company, valued at approximately $164,177,208. The trade was a 17.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,823,322 shares of company stock worth $56,411,627 in the last ninety days. Insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its position in shares of Scholar Rock by 103.4% during the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after purchasing an additional 84,118 shares during the period. Geode Capital Management LLC boosted its holdings in Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after buying an additional 120,489 shares in the last quarter. Wellington Management Group LLP increased its stake in Scholar Rock by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after purchasing an additional 27,801 shares in the last quarter. Sphera Funds Management LTD. purchased a new position in Scholar Rock during the 3rd quarter worth approximately $1,337,000. Finally, Quarry LP increased its holdings in shares of 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 purchasing an additional 4,373 shares during the period. 91.08% of the stock is owned by 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.