Scholar Rock (NASDAQ:SRRK) Shares Gap Down to $32.90

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) gapped down prior to trading on Thursday . The stock had previously closed at $32.90, but opened at $32.20. Scholar Rock shares last traded at $32.20, with a volume of 9 shares traded.

Separately, Zacks Investment Research downgraded Scholar Rock from a “hold” rating to a “sell” rating in a research report on Thursday, July 15th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $61.60.

The company has a debt-to-equity ratio of 0.10, a current ratio of 4.55 and a quick ratio of 4.55. The company has a 50-day simple moving average of $29.02.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Wednesday, May 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.06). The business had revenue of $4.70 million during the quarter, compared to analysts’ expectations of $5.25 million. Scholar Rock had a negative return on equity of 60.07% and a negative net margin of 643.75%. The company’s revenue was down 6.6% compared to the same quarter last year. On average, analysts expect that Scholar Rock Holding Co. will post -3.08 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Price T Rowe Associates Inc. MD increased its stake in Scholar Rock by 69.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,996,494 shares of the company’s stock valued at $193,950,000 after acquiring an additional 1,637,618 shares during the last quarter. Victory Capital Management Inc. increased its stake in Scholar Rock by 1,381.4% in the first quarter. Victory Capital Management Inc. now owns 681,297 shares of the company’s stock valued at $34,515,000 after acquiring an additional 635,307 shares during the last quarter. Norges Bank bought a new position in Scholar Rock in the fourth quarter valued at $30,574,000. Lord Abbett & CO. LLC increased its stake in Scholar Rock by 292.5% in the first quarter. Lord Abbett & CO. LLC now owns 781,111 shares of the company’s stock valued at $39,571,000 after acquiring an additional 582,126 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Scholar Rock by 276.7% in the first quarter. Goldman Sachs Group Inc. now owns 255,222 shares of the company’s stock valued at $12,929,000 after acquiring an additional 187,477 shares during the last quarter. 80.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Company Profile (NASDAQ:SRRK)

Scholar Rock Holding Corporation, a clinical-stage biopharmaceutical company, focuses on the discovery and development of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, a novel inhibitor of the activation of latent myostatin that has completed the Phase II clinical trials for the treatment of spinal muscular atrophy; and SRK-181, which is in Phase I 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.

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