Scholar Rock (NASDAQ:SRRK) Trading Down 5.5% - What's Next?

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) fell 5.5% on Monday . The company traded as low as $36.81 and last traded at $36.69. 72,602 shares were traded during mid-day trading, a decline of 92% from the average session volume of 869,604 shares. The stock had previously closed at $38.82.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SRRK. HC Wainwright lifted their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Wedbush reiterated an "outperform" rating and set a $47.00 price objective on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, Truist Financial boosted their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $40.43.

Scholar Rock Price Performance

The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.42 billion, a P/E ratio of -15.37 and a beta of 0.59. The firm has a 50-day simple moving average of $40.71 and a 200-day simple moving average of $30.07.

Insider Transactions at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of Scholar Rock stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the completion of the transaction, the insider now owns 111,084 shares in the company, valued at approximately $4,154,541.60. This trade represents a 38.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $986,013.60. Following the transaction, the chief executive officer now owns 330,363 shares of the company's stock, valued at $14,602,044.60. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 149,974 shares of company stock valued at $5,927,710 in the last quarter. 19.20% of the stock is currently owned by corporate insiders.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp purchased a new stake in Scholar Rock in the fourth quarter valued at approximately $212,000. GF Fund Management CO. LTD. purchased a new stake in Scholar Rock in the fourth quarter valued at approximately $85,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in Scholar Rock in the fourth quarter valued at approximately $16,680,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Scholar Rock by 42.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company's stock worth $5,845,000 after acquiring an additional 40,436 shares during the period. Finally, Voloridge Investment Management LLC increased its position in shares of Scholar Rock by 317.4% during the fourth quarter. Voloridge Investment Management LLC now owns 201,576 shares of the company's stock worth $8,712,000 after acquiring an additional 153,280 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.