Scholar Rock (NASDAQ:SRRK) Stock Price Down 4.3% – Should You Sell?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price fell 4.3% during trading on Monday . The company traded as low as $43.04 and last traded at $43.21. 149,001 shares traded hands during trading, a decline of 73% from the average session volume of 552,993 shares. The stock had previously closed at $45.17.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SRRK shares. Wedbush raised their target price on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Truist Financial upped their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. JPMorgan Chase & Co. lifted their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Piper Sandler increased their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, HC Wainwright boosted their price objective on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and an average price target of $40.43.

Scholar Rock Price Performance

The firm has a market cap of $4.06 billion, a P/E ratio of -18.48 and a beta of 0.52. The business’s 50 day moving average is $36.70 and its two-hundred day moving average is $20.68. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Activity

In other news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 trade represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Scholar Rock

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares during the last quarter. GAMMA Investing LLC lifted its position in Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after buying an additional 269 shares during the period. Quarry LP increased its stake in shares of 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 in the last quarter. Principal Financial Group Inc. bought a new stake in Scholar Rock during the second quarter worth about $98,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Scholar Rock during the second quarter valued at approximately $100,000. Institutional investors own 91.08% of the company’s stock.

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.