Scholar Rock (NASDAQ:SRRK) Shares Down 4.6% - What's Next?

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report)'s share price dropped 4.6% during trading on Thursday . The stock traded as low as $40.62 and last traded at $40.59. Approximately 481,118 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 969,946 shares. The stock had previously closed at $42.56.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SRRK shares. BMO Capital Markets boosted their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, October 11th. JPMorgan Chase & Co. increased their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Truist Financial upped their target price on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Wedbush reaffirmed an "outperform" rating and set a $47.00 price objective on shares of Scholar Rock in a research note on Wednesday, January 29th. Finally, Piper Sandler increased their price target on Scholar Rock from $28.00 to $42.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $40.43.

Scholar Rock Stock Performance

The stock's fifty day simple moving average is $42.47 and its two-hundred day simple moving average is $25.74. 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 company has a market cap of $3.75 billion, a price-to-earnings ratio of -17.04 and a beta of 0.52.

Insider Activity

In other news, insider Jing L. Marantz sold 5,655 shares of Scholar Rock 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 directly owns 67,200 shares of the company's stock, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction that occurred on 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 sale, the insider now owns 10,850,005 shares in the company, valued at $417,616,692.45. This represents a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 458,974 shares of company stock valued at $17,948,788 in the last three months. Corporate insiders own 19.20% of the company's stock.

Institutional Trading of Scholar Rock

A number of hedge funds have recently made changes to their positions in SRRK. Wellington Management Group LLP boosted its stake in Scholar Rock by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 199,777 shares of the company's stock valued at $1,600,000 after acquiring an additional 27,801 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock valued at $4,027,000 after purchasing an additional 42,139 shares in the last quarter. Barclays PLC lifted its position in shares of Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company's stock worth $1,324,000 after purchasing an additional 84,118 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Scholar Rock in the second quarter worth about $6,223,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Scholar Rock by 7.1% in the third 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 buying an additional 6,269 shares during the last quarter. 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.