Scholar Rock (NASDAQ:SRRK) Shares Gap Down - Here's What Happened

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $39.95, but opened at $38.66. Scholar Rock shares last traded at $39.16, with a volume of 77,094 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. HC Wainwright raised their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Wedbush restated an "outperform" rating and set a $47.00 price target on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the company 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $40.43.

Scholar Rock Stock Performance

The company has a market capitalization of $3.52 billion, a P/E ratio of -16.01 and a beta of 0.50. The company's fifty day moving average is $42.47 and its 200 day moving average is $27.17. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Activity at Scholar Rock

In other news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the transaction, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This represents a 3.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Junlin Ho sold 9,039 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $399,523.80. Following the transaction, the general counsel now owns 195,037 shares in the company, valued at approximately $8,620,635.40. This represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 458,974 shares of company stock worth $17,948,788. 19.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company's stock worth $1,600,000 after acquiring an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock worth $4,027,000 after purchasing an additional 42,139 shares in the last quarter. Barclays PLC grew its position in Scholar Rock by 103.4% during the 3rd quarter. Barclays PLC now owns 165,449 shares of the company's stock valued at $1,324,000 after purchasing an additional 84,118 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Scholar Rock by 7.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company's stock valued at $759,000 after purchasing an additional 6,269 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock worth $12,361,000 after buying an additional 120,489 shares during the last quarter. Hedge funds and other institutional investors 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.