Scholar Rock (NASDAQ:SRRK) Stock Price Down 6.6%

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report)'s stock price dropped 6.6% during mid-day trading on Monday . The stock traded as low as $16.48 and last traded at $16.58. Approximately 142,033 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 818,040 shares. The stock had previously closed at $17.76.

Analyst Ratings Changes

SRRK has been the subject of several recent analyst reports. Raymond James initiated coverage on shares of Scholar Rock in a research note on Thursday. They issued a "strong-buy" rating and a $30.00 target price for the company. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 19th. Piper Sandler restated an "overweight" rating and set a $28.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 26th. Wedbush restated an "outperform" rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Tuesday, January 23rd. Finally, Truist Financial restated a "buy" rating and set a $20.00 price objective on shares of Scholar Rock in a research report on Monday, March 25th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Scholar Rock presently has a consensus rating of "Buy" and an average target price of $25.17.

Scholar Rock Trading Down 5.5 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80. The business's 50-day moving average price is $15.64 and its two-hundred day moving average price is $13.54. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -8.45 and a beta of 0.89.

Insider Activity

In other news, SVP Mo Qatanani sold 2,002 shares of Scholar Rock stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total value of $31,891.86. Following the completion of the sale, the senior vice president now directly owns 78,816 shares in the company, valued at $1,255,538.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Mo Qatanani sold 2,002 shares of Scholar Rock stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $15.93, for a total value of $31,891.86. Following the transaction, the senior vice president now directly owns 78,816 shares of the company's stock, valued at $1,255,538.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay T. Backstrom sold 11,614 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $182,804.36. Following the completion of the transaction, the chief executive officer now directly owns 352,671 shares in the company, valued at $5,551,041.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,844 shares of company stock worth $534,887. Corporate insiders own 26.20% of the company's stock.

Hedge Funds Weigh In On Scholar Rock

Hedge funds have recently modified their holdings of the business. Amalgamated Bank boosted its position in Scholar Rock by 15.5% during the fourth 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 last quarter. Legal & General Group Plc boosted its position in shares of Scholar Rock by 8.1% during the 4th quarter. Legal & General Group Plc now owns 14,265 shares of the company's stock worth $129,000 after purchasing an additional 1,072 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Scholar Rock by 4.1% during the 3rd quarter. Alps Advisors Inc. now owns 41,535 shares of the company's stock worth $295,000 after purchasing an additional 1,628 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Scholar Rock by 4.2% in the 3rd quarter. California State Teachers Retirement System now owns 43,175 shares of the company's stock worth $307,000 after acquiring an additional 1,730 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Scholar Rock by 7.0% in the 1st quarter. Rhumbline Advisers now owns 29,405 shares of the company's stock worth $379,000 after acquiring an additional 1,918 shares during the last quarter. Institutional investors and hedge funds 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.