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

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price fell 4.6% on Thursday . The stock traded as low as $40.62 and last traded at $40.59. 481,118 shares traded hands 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 equities research analysts have weighed in on SRRK shares. Wedbush reiterated an “outperform” rating and set a $47.00 price target on shares of Scholar Rock in a research note on Wednesday. Piper Sandler lifted their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Truist Financial increased their target price on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. BMO Capital Markets boosted their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and an average price target of $40.43.

Scholar Rock Trading Down 0.0 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -17.18 and a beta of 0.52. The company’s 50-day moving average is $42.42 and its 200-day moving average is $25.29.

Insider Buying and Selling at Scholar Rock

In related news, CEO Jay T. Backstrom sold 22,308 shares of the 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 $986,013.60. Following the transaction, the chief executive officer now directly owns 330,363 shares in the company, valued at $14,602,044.60. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jing L. Marantz sold 5,655 shares of Scholar Rock stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the sale, the insider now directly owns 67,200 shares of the company’s stock, valued at $2,970,240. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 458,974 shares of company stock worth $17,948,788. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently made changes to their positions in SRRK. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. GAMMA Investing LLC lifted 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 valued at $34,000 after purchasing an additional 269 shares in the last quarter. Quarry LP grew its position 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. Global Retirement Partners LLC increased its stake in Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after buying an additional 1,031 shares during the period. 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.