Scholar Rock (NASDAQ:SRRK) Shares Down 5.5% – Here’s Why

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price dropped 5.5% on Tuesday . The company traded as low as $30.75 and last traded at $30.38. Approximately 976,933 shares traded hands during trading, a decline of 17% from the average daily volume of 1,172,661 shares. The stock had previously closed at $32.15.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued an “outperform” rating and set a $50.00 price objective on shares of Scholar Rock in a report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and an average price target of $42.67.

Scholar Rock Stock Down 6.0 %

The firm has a 50-day moving average of $37.52 and a 200 day moving average of $33.40. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -12.86 and a beta of 0.59.

Insider Activity

In other news, insider Tracey Sacco sold 6,500 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the sale, the insider now directly owns 71,750 shares in the company, valued at $2,373,490. This trade represents a 8.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Edward H. Myles sold 142,292 shares of Scholar Rock stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the transaction, the chief financial officer now directly owns 111,345 shares in the company, valued at approximately $3,966,108.90. This represents a 56.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 299,772 shares of company stock worth $11,245,798 over the last ninety days. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares in the last quarter. Quarry LP lifted its stake in shares of Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after buying an additional 4,373 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after acquiring an additional 1,031 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Scholar Rock in the 4th quarter worth about $85,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.