Scholar Rock (NASDAQ:SRRK) Shares Down 5.8%

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) fell 5.8% during trading on Wednesday . The stock traded as low as $9.15 and last traded at $9.15. 297,152 shares traded hands during trading, a decline of 64% from the average session volume of 830,892 shares. The stock had previously closed at $9.71.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SRRK. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Scholar Rock in a research report on Tuesday, June 25th. Wedbush reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Thursday, August 8th. Finally, BMO Capital Markets raised their price objective on shares of Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $26.43.

Scholar Rock Trading Down 5.1 %

The firm’s 50-day moving average is $8.76 and its 200-day moving average is $12.50. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $737.08 million, a price-to-earnings ratio of -4.65 and a beta of 0.85.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter last year, the company posted ($0.47) earnings per share. As a group, sell-side analysts anticipate that Scholar Rock Holding Co. will post -2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Junlin Ho sold 4,695 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,832,602.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Junlin Ho sold 4,695 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,832,602.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward H. Myles sold 9,458 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $84,932.84. Following the sale, the chief financial officer now directly owns 201,518 shares in the company, valued at $1,809,631.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,468 shares of company stock valued at $147,883. 26.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in shares of Scholar Rock by 15.5% in the fourth quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock worth $92,000 after buying an additional 652 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Scholar Rock in the fourth quarter worth about $178,000. Walleye Trading LLC purchased a new stake in shares of Scholar Rock in the first quarter worth about $178,000. Principal Financial Group Inc. purchased a new stake in shares of Scholar Rock in the second quarter worth about $98,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Scholar Rock in the second quarter worth about $100,000. 91.08% of the stock is owned by hedge funds and other 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.