Scholar Rock (NASDAQ:SRRK) Trading Down 4.3% – Here’s What Happened

Scholar Rock Holding Co. (NASDAQ:SRRK) shares dropped 4.3% during mid-day trading on Friday . The stock traded as low as $40.26 and last traded at $43.47. Approximately 320,665 shares were traded during trading, a decline of 68% from the average daily volume of 1,015,529 shares. The stock had previously closed at $45.40.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. BMO Capital Markets upped their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Wedbush reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a research report on Thursday, January 9th. Truist Financial boosted their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler raised their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, HC Wainwright upped their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Trading Down 3.6 %

The firm has a market cap of $4.10 billion, a P/E ratio of -18.62 and a beta of 0.52. The company’s fifty day moving average price is $41.03 and its two-hundred day moving average price is $24.26. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Transactions at Scholar Rock

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the transaction, the insider now directly owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jing L. Marantz sold 5,655 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,970,240. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 458,974 shares of company stock valued at $17,948,788. Corporate insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of Scholar Rock in the 2nd quarter valued at $769,000. Hsbc Holdings PLC acquired a new stake in Scholar Rock in the second quarter worth about $100,000. Marshall Wace LLP raised its holdings in Scholar Rock by 1,051.3% during the 2nd quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after purchasing an additional 444,961 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Scholar Rock during the 2nd quarter valued at about $103,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Scholar Rock by 151.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 439,557 shares of the company’s stock valued at $3,662,000 after purchasing an additional 264,581 shares during the last quarter. 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.