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

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price dropped 4.3% during mid-day trading on Monday . The stock traded as low as $43.04 and last traded at $43.21. Approximately 149,001 shares changed hands during trading, a decline of 73% from the average daily volume of 552,993 shares. The stock had previously closed at $45.17.

Analysts Set New Price Targets

SRRK has been the topic of a number of analyst reports. Wedbush upped their price target on Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. HC Wainwright upped their target price on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler raised their price target 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. Truist Financial upped their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Stock Up 0.9 %

The company has a market cap of $3.82 billion, a price-to-earnings ratio of -17.38 and a beta of 0.52. The stock’s 50-day moving average is $37.14 and its 200-day moving average is $21.15. 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 Activity

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the sale, the insider now owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently made changes to their positions in SRRK. GAMMA Investing LLC raised its holdings in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after purchasing an additional 269 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after buying an additional 514 shares during the last quarter. Quarry LP lifted its position in shares of Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after buying an additional 4,373 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Scholar Rock in the 2nd quarter worth approximately $98,000. Finally, Hsbc Holdings PLC bought a new position in shares of Scholar Rock in the second quarter valued at approximately $100,000. 91.08% of the stock is owned by institutional investors.

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.