Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report)'s share price dropped 7% during mid-day trading on Wednesday . The company traded as low as $13.68 and last traded at $13.79. Approximately 116,688 shares changed hands during trading, a decline of 85% from the average daily volume of 794,200 shares. The stock had previously closed at $14.82.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Piper Sandler reissued an "overweight" rating and issued a $28.00 target price on shares of Scholar Rock in a 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. Raymond James initiated coverage on Scholar Rock in a report on Thursday, March 28th. They issued a "strong-buy" rating and a $30.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, March 19th. Finally, Truist Financial restated a "buy" rating and set a $20.00 price objective on shares of Scholar Rock in a research report on Wednesday, April 3rd. 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. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $25.17.
View Our Latest Research Report on Scholar Rock
Scholar Rock Stock Down 5.4 %
The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -7.09 and a beta of 0.90. The firm's fifty day moving average price is $15.68 and its two-hundred day moving average price is $13.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80.
Insider Activity
In other news, CEO Jay T. Backstrom sold 11,614 shares of Scholar Rock stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Scholar Rock news, CEO Jay T. Backstrom sold 11,614 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $182,804.36. Following the transaction, the chief executive officer now directly owns 352,671 shares in the company, valued at approximately $5,551,041.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mo Qatanani sold 2,002 shares of the business's stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $15.93, for a total transaction of $31,891.86. Following the transaction, the senior vice president now owns 78,816 shares in the company, valued at $1,255,538.88. The disclosure for this sale can be found here. Insiders sold a total of 33,844 shares of company stock worth $534,887 over the last quarter. 26.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Scholar Rock
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Scholar Rock by 192.3% during the second quarter. Royal Bank of Canada now owns 3,493 shares of the company's stock worth $26,000 after purchasing an additional 2,298 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Scholar Rock by 52.8% in the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company's stock worth $30,000 after buying an additional 1,458 shares during the last quarter. UBS Group AG lifted its holdings in shares of Scholar Rock by 279.0% during the 1st quarter. UBS Group AG now owns 4,328 shares of the company's stock worth $35,000 after acquiring an additional 3,186 shares during the last quarter. Point72 Hong Kong Ltd grew its position in Scholar Rock by 1,388.7% in the first quarter. Point72 Hong Kong Ltd now owns 3,171 shares of the company's stock worth $41,000 after acquiring an additional 2,958 shares in the last quarter. Finally, Alpha Paradigm Partners LLC bought a new position in Scholar Rock in the third quarter valued at $50,000. 91.08% of the stock is currently owned by institutional investors.
About Scholar Rock
(
Get Free Report)
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.
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