Scholar Rock (NASDAQ:SRRK) Stock Price Down 4.3% - Time to Sell?

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report)'s stock price was down 4.3% during mid-day trading on Friday . The company traded as low as $40.26 and last traded at $43.47. Approximately 320,665 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,015,529 shares. The stock had previously closed at $45.40.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SRRK shares. Wedbush restated an "outperform" rating and issued a $47.00 price objective on shares of Scholar Rock in a research note on Thursday, January 9th. Piper Sandler upped their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. 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. HC Wainwright upped their price objective on Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. upped their price objective on Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Scholar Rock currently has an average rating of "Buy" and a consensus 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 business has a 50-day moving average price of $41.03 and a 200 day moving average price of $24.26. The stock has a market cap of $4.10 billion, a PE ratio of -18.62 and a beta of 0.52.

Insider Buying and Selling

In related news, insider Jing L. Marantz sold 5,655 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $249,951.00. Following the sale, the insider now owns 67,200 shares of the company's stock, valued at approximately $2,970,240. This represents a 7.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the sale, the chief executive officer now directly owns 330,363 shares in the company, valued at $14,602,044.60. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 458,974 shares of company stock valued at $17,948,788. Corporate insiders own 19.20% of the company's stock.

Hedge Funds Weigh In On Scholar Rock

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock worth $25,000 after acquiring an additional 514 shares during the last quarter. GAMMA Investing LLC increased its stake in Scholar Rock by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company's stock worth $34,000 after acquiring an additional 269 shares during the last quarter. Quarry LP increased its stake in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company's stock worth $36,000 after acquiring an additional 4,373 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Scholar Rock by 1,321.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock worth $48,000 after acquiring an additional 1,031 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Scholar Rock in the 2nd quarter worth about $100,000. 91.08% of the stock is currently owned by 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.