Scholar Rock (NASDAQ:SRRK) Shares Down 5.7% - Should You Sell?

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report)'s stock price dropped 5.7% during mid-day trading on Friday . The company traded as low as $34.99 and last traded at $34.24. Approximately 375,557 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,137,121 shares. The stock had previously closed at $36.32.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wedbush reissued an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research note on Wednesday. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Scholar Rock has a consensus rating of "Buy" and a consensus target price of $42.67.

Scholar Rock Trading Down 8.5%

The business has a fifty day moving average price of $31.52 and a 200 day moving average price of $36.08. The firm has a market cap of $3.16 billion, a PE ratio of -13.12 and a beta of 0.28. The company has a current ratio of 10.25, a quick ratio of 10.25 and a debt-to-equity ratio of 0.16.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same quarter in the prior year, the firm posted ($0.59) EPS. Analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael Gilman sold 3,375 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $100,305.00. Following the sale, the director now owns 55,216 shares of the company's stock, valued at approximately $1,641,019.52. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Akshay Vaishnaw sold 6,750 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the sale, the insider now directly owns 616,205 shares in the company, valued at $18,313,612.60. This trade represents a 1.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,500 shares of company stock valued at $1,181,671 over the last three months. 13.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds have recently bought and sold shares of SRRK. GF Fund Management CO. LTD. raised its stake in shares of Scholar Rock by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after buying an additional 430 shares during the last quarter. CWM LLC raised its position in Scholar Rock by 152.8% during the first quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after acquiring an additional 602 shares during the last quarter. Amalgamated Bank grew its position in shares of Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after purchasing an additional 620 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 766 shares in the last quarter. Finally, Corebridge Financial Inc. increased its stake in shares of Scholar Rock by 2.2% during the 1st quarter. Corebridge Financial Inc. now owns 39,389 shares of the company's stock worth $1,266,000 after purchasing an additional 850 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other 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.

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