Scholar Rock (NASDAQ:SRRK) Trading Down 3.2%

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price was down 3.2% on Tuesday . The company traded as low as $15.50 and last traded at $15.50. Approximately 78,459 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 801,052 shares. The stock had previously closed at $16.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SRRK shares. Truist Financial reaffirmed a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a report on Monday. Wedbush reiterated an “outperform” rating and set a $23.00 price target on shares of Scholar Rock in a research report on Tuesday, January 23rd. Raymond James started coverage on Scholar Rock in a research report on Thursday. They set a “strong-buy” rating and a $30.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a research report on Tuesday, March 19th. Finally, Piper Sandler reiterated an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a research report on Tuesday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $25.17.

Scholar Rock Stock Performance

The firm has a market cap of $1.38 billion, a PE ratio of -8.92 and a beta of 0.89. The company has a 50 day simple moving average of $15.55 and a 200-day simple moving average of $13.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80.

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 12,459 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $18.83, for a total transaction of $234,602.97. Following the completion of the sale, the chief financial officer now owns 168,784 shares of the company’s stock, valued at $3,178,202.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Edward H. Myles sold 12,459 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $18.83, for a total value of $234,602.97. Following the completion of the sale, the chief financial officer now owns 168,784 shares of the company’s stock, valued at $3,178,202.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Caryn Parlavecchio sold 2,849 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $15.93, for a total value of $45,384.57. Following the completion of the sale, the insider now directly owns 114,350 shares of the company’s stock, valued at approximately $1,821,595.50. The disclosure for this sale can be found here. Insiders sold a total of 46,303 shares of company stock valued at $769,490 over the last quarter. 26.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank raised its position in shares of Scholar Rock by 9.3% in the 1st quarter. Swiss National Bank now owns 54,000 shares of the company’s stock worth $696,000 after purchasing an additional 4,600 shares during the last quarter. MetLife Investment Management LLC raised its position in Scholar Rock by 54.1% in the 1st quarter. MetLife Investment Management LLC now owns 16,604 shares of the company’s stock worth $214,000 after buying an additional 5,832 shares during the last quarter. Rhumbline Advisers raised its position in Scholar Rock by 7.0% in the 1st quarter. Rhumbline Advisers now owns 29,405 shares of the company’s stock worth $379,000 after buying an additional 1,918 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Scholar Rock by 23.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 178,984 shares of the company’s stock worth $2,307,000 after buying an additional 34,416 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Scholar Rock by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,490,795 shares of the company’s stock worth $19,217,000 after buying an additional 38,917 shares during the last quarter. Hedge funds and other 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.