Scholar Rock (NASDAQ:SRRK) Shares Down 5.1%

Scholar Rock Holding Co. (NASDAQ:SRRK) traded down 5.1% during mid-day trading on Thursday . The company traded as low as $8.25 and last traded at $8.25. 162,605 shares traded hands during trading, a decline of 80% from the average session volume of 797,174 shares. The stock had previously closed at $8.69.

Analyst Ratings Changes

Several research analysts have weighed in on SRRK shares. BMO Capital Markets boosted their price target on Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a 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 reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and a consensus target price of $26.43.

Scholar Rock Stock Performance

The company has a market cap of $672.25 million, a price-to-earnings ratio of -3.93 and a beta of 0.82. The stock has a 50 day simple moving average of $8.90 and a 200 day simple moving average of $11.60. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter in the previous year, the company earned ($0.47) earnings per share. As a group, analysts predict that Scholar Rock Holding Co. will post -2.39 EPS for the current year.

Insider Buying and Selling

In related news, CFO Edward H. Myles sold 9,458 shares of Scholar Rock stock in a transaction dated 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 transaction, the chief financial officer now directly owns 201,518 shares in the company, valued at $1,809,631.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Scholar Rock news, CFO Edward H. Myles sold 9,458 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $84,932.84. Following the completion of the sale, the chief financial officer now owns 201,518 shares in the company, valued at $1,809,631.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Junlin Ho sold 4,695 shares of the firm’s stock in a transaction dated 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 owns 204,076 shares in the company, valued at $1,832,602.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,919 shares of company stock worth $161,420. Insiders own 26.20% of the company’s stock.

Institutional Trading of Scholar Rock

Several hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its position in 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 purchasing an additional 652 shares during the period. American International Group Inc. boosted its stake in Scholar Rock by 3.0% during the first quarter. American International Group Inc. now owns 28,407 shares of the company’s stock valued at $505,000 after buying an additional 834 shares in the last quarter. Jennison Associates LLC grew its holdings in Scholar Rock by 1.0% during the first quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock worth $2,459,000 after acquiring an additional 1,409 shares during the period. Rice Hall James & Associates LLC raised its position in Scholar Rock by 3.6% in the second quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after acquiring an additional 1,594 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Scholar Rock by 11.7% in the 1st quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock valued at $274,000 after acquiring an additional 1,620 shares during the last quarter. 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.