Scholar Rock (NASDAQ:SRRK) Shares Down 4.9%

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price dropped 4.9% on Tuesday . The stock traded as low as $7.73 and last traded at $7.73. Approximately 123,228 shares traded hands during trading, a decline of 86% from the average daily volume of 863,706 shares. The stock had previously closed at $8.13.

Analysts Set New Price Targets

SRRK has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their target price on Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Wedbush reissued an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a report on Tuesday, May 7th. Truist Financial reissued a “buy” rating and issued a $20.00 price objective on shares of Scholar Rock in a report on Wednesday, April 3rd. Piper Sandler reissued an “overweight” rating and issued a $28.00 price objective on shares of Scholar Rock in a report on Tuesday, March 26th. Finally, Raymond James started coverage on Scholar Rock in a report on Thursday, March 28th. They set a “strong-buy” rating and a $30.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $26.00.

Scholar Rock Stock Up 1.8 %

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

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

Insider Buying and Selling

In related news, General Counsel Junlin Ho sold 4,695 shares of the company’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 $42,161.10. Following the transaction, the general counsel now directly owns 204,076 shares in the company, valued at $1,832,602.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Scholar Rock news, CFO Edward H. Myles sold 9,458 shares of the company’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 value of $84,932.84. Following the completion of the sale, the chief financial officer now owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Junlin Ho sold 4,695 shares of the company’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 value of $42,161.10. Following the completion of the sale, the general counsel now directly owns 204,076 shares of the company’s stock, valued at approximately $1,832,602.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,468 shares of company stock worth $147,883. Insiders own 26.20% of the company’s stock.

Institutional Trading of Scholar Rock

Several hedge funds and other institutional investors have recently bought and sold shares of SRRK. Amalgamated Bank boosted its stake in shares of Scholar Rock by 15.5% during the fourth 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 period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Scholar Rock by 479.2% during the fourth 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 period. Spire Wealth Management purchased a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $178,000. Walleye Trading LLC purchased a new stake in shares of Scholar Rock during the first quarter valued at approximately $178,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Scholar Rock during the first quarter valued at approximately $258,000. 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.