Scholar Rock (NASDAQ:SRRK) Shares Down 5.1%

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price was down 5.1% during mid-day trading on Tuesday . The company traded as low as $8.94 and last traded at $8.94. Approximately 123,913 shares traded hands during trading, a decline of 85% from the average daily volume of 817,047 shares. The stock had previously closed at $9.42.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SRRK shares. BMO Capital Markets increased their target price on Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Scholar Rock in a research report on Tuesday, June 25th. Finally, Wedbush reiterated an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a research report on Thursday, August 8th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.43.

Scholar Rock Trading Down 3.8 %

The company has a 50 day moving average of $8.73 and a 200 day moving average of $12.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. The stock has a market capitalization of $722.57 million, a price-to-earnings ratio of -4.28 and a beta of 0.85.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same period last year, the company earned ($0.47) earnings per share. On average, research analysts predict that Scholar Rock Holding Co. will post -2.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Scholar Rock news, CFO Edward H. Myles sold 9,458 shares of the firm’s stock in a transaction 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 directly owns 201,518 shares of the company’s stock, valued at approximately $1,809,631.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Junlin Ho sold 4,695 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the transaction, the general counsel now directly owns 204,076 shares in the company, valued at approximately $1,832,602.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 9,458 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The disclosure for this sale can be found here. Insiders sold 17,919 shares of company stock valued at $161,420 in the last three months. 26.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently modified their holdings of SRRK. Amalgamated Bank boosted its holdings in Scholar Rock by 15.5% during the 4th quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after acquiring an additional 652 shares during the period. Spire Wealth Management purchased a new position in Scholar Rock during the 4th quarter valued at about $178,000. Walleye Trading LLC purchased a new position in Scholar Rock during the 1st quarter valued at about $178,000. Principal Financial Group Inc. purchased a new position in Scholar Rock during the 2nd quarter valued at about $98,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Scholar Rock in the 2nd quarter valued at about $100,000. 91.08% of the stock is currently 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.