Scholar Rock (NASDAQ:SRRK) Trading Down 6.2% - Here's Why

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) dropped 6.2% during trading on Wednesday . The stock traded as low as $28.81 and last traded at $28.58. Approximately 1,076,245 shares traded hands during trading, a decline of 15% from the average daily volume of 1,269,883 shares. The stock had previously closed at $30.47.

Analyst Upgrades and Downgrades

Separately, Wedbush restated an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a research report on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Scholar Rock has a consensus rating of "Buy" and a consensus target price of $42.67.

Scholar Rock Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The stock has a market cap of $2.77 billion, a P/E ratio of -12.40 and a beta of 0.37. The firm's 50 day moving average is $30.38 and its 200 day moving average is $35.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same quarter last year, the business posted ($0.59) EPS. Analysts anticipate that Scholar Rock Holding Co. will post -2.42 EPS for the current year.

Insider Transactions at Scholar Rock

In related news, insider Akshay Vaishnaw sold 6,750 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $200,610.00. Following the sale, the insider now directly owns 616,205 shares of the company's stock, valued at approximately $18,313,612.60. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Edward H. Myles sold 142,292 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the sale, the chief financial officer now directly owns 111,345 shares in the company, valued at $3,966,108.90. This trade represents a 56.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 181,798 shares of company stock worth $6,284,738 over the last 90 days. 13.30% of the stock is currently owned by company insiders.

Institutional Trading of Scholar Rock

Several institutional investors have recently modified their holdings of SRRK. FMR LLC grew its position in shares of Scholar Rock by 33.7% in the fourth quarter. FMR LLC now owns 13,635,261 shares of the company's stock valued at $589,316,000 after purchasing an additional 3,439,215 shares during the period. Marshall Wace LLP boosted its position in Scholar Rock by 1,283.7% during the fourth quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock worth $127,301,000 after acquiring an additional 2,732,546 shares during the last quarter. Norges Bank acquired a new position in Scholar Rock during the fourth quarter worth about $86,043,000. Fairmount Funds Management LLC acquired a new position in Scholar Rock during the fourth quarter worth about $84,839,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Scholar Rock during the fourth quarter worth about $68,930,000. Institutional investors and hedge funds own 91.08% of the company's stock.

About Scholar Rock

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.