Scholar Rock (NASDAQ:SRRK) Shares Down 5.1% - Here's Why

Key Points

• Scholar Rock shares fell 5.1% to about $44.44 in mid-day trading, with volume roughly 36% below the average session level.
• Analyst sentiment remains broadly positive despite the decline: the stock has a consensus “Moderate Buy” rating and a $66.75 average price target, although Barclays downgraded it to “cautious.”
• Institutional investors and hedge funds own approximately 91.08% of the company, while analysts expect Scholar Rock to report a full-year loss of about $3.23 per share.

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report)'s stock price traded down 5.1% during mid-day trading on Monday. The company traded as low as $44.59 and last traded at $44.4380. Approximately 908,652 shares were traded during trading, a decline of 36% from the average session volume of 1,414,143 shares. The stock had previously closed at $46.81.

Analysts Set New Price Targets

SRRK has been the subject of a number of research reports. Barclays cut Scholar Rock from an "overweight" rating to a "cautious" rating in a research note on Tuesday, September 15th. Jefferies Financial Group lifted their target price on shares of Scholar Rock from $57.00 to $65.00 and gave the company a "buy" rating in a report on Monday, September 14th. UBS Group reiterated a "buy" rating on shares of Scholar Rock in a research report on Tuesday, September 15th. TD Cowen reiterated a "buy" rating on shares of Scholar Rock in a research note on Monday, September 14th. Finally, BMO Capital Markets raised their price objective on shares of Scholar Rock from $76.00 to $84.00 and gave the stock an "outperform" rating in a research report on Monday, September 14th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.75.

Scholar Rock Stock Down 5.0%

The business has a 50-day simple moving average of $52.26 and a two-hundred day simple moving average of $50.01. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of -12.94 and a beta of 0.61. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.84). During the same quarter in the previous year, the firm earned ($0.98) EPS. As a group, equities analysts predict that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors have recently made changes to their positions in SRRK. Engineers Gate Manager LP boosted its position in Scholar Rock by 211.3% during the second quarter. Engineers Gate Manager LP now owns 23,933 shares of the company's stock worth $1,316,000 after acquiring an additional 16,245 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Scholar Rock in the 2nd quarter worth about $99,000. Squarepoint Ops LLC lifted its position in Scholar Rock by 484.5% during the second quarter. Squarepoint Ops LLC now owns 291,996 shares of the company's stock valued at $16,060,000 after buying an additional 242,041 shares in the last quarter. Arizona State Retirement System boosted its position in Scholar Rock by 20.1% during the 2nd quarter. Arizona State Retirement System now owns 20,605 shares of the company's stock worth $1,133,000 after purchasing an additional 3,442 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Scholar Rock in the second quarter valued at about $215,000. 91.08% of the stock is owned by institutional investors and hedge funds.

About Scholar Rock

Scholar Rock Holding Corporation NASDAQ: SRRK is a clinical-stage biopharmaceutical company focused on developing medicines that selectively target the activation of growth factors. The company's approach is designed to modulate biologic pathways in specific tissues while potentially limiting effects elsewhere in the body.

Scholar Rock's lead product candidate is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin, a protein that negatively regulates muscle growth.

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