Scholar Rock (NASDAQ:SRRK) Trading Down 5.4% – What’s Next?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price dropped 5.4% on Thursday . The stock traded as low as $26.21 and last traded at $26.36. Approximately 155,336 shares were traded during trading, a decline of 86% from the average daily volume of 1,125,663 shares. The stock had previously closed at $27.86.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $37.00 price objective on shares of Scholar Rock in a research note on Monday, November 4th. Piper Sandler increased their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets upped their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. HC Wainwright boosted their target price on shares of Scholar Rock from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Scholar Rock Stock Up 12.2 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The company has a 50-day simple moving average of $22.10 and a 200-day simple moving average of $13.95.

Insider Transactions at Scholar Rock

In related news, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the completion of the transaction, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. The trade was a 37.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the sale, the director now owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This trade represents a 17.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,413,889 shares of company stock valued at $40,652,551. 19.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Scholar Rock

Several hedge funds and other institutional investors have recently made changes to their positions in SRRK. Clearbridge Investments LLC purchased a new stake in Scholar Rock in the second quarter valued at about $6,223,000. Candriam S.C.A. purchased a new stake in Scholar Rock during the 2nd quarter worth approximately $6,201,000. Fisher Asset Management LLC increased its stake in Scholar Rock by 593.6% during the 3rd quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock valued at $5,879,000 after purchasing an additional 628,186 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Scholar Rock by 159.2% in the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after buying an additional 568,512 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Scholar Rock by 1,051.3% during the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after buying an additional 444,961 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.