Scholar Rock (NASDAQ:SRRK) Trading Down 4.4%


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Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price fell 4.4% during trading on Thursday . The company traded as low as $31.74 and last traded at $31.85. 16,043 shares were traded during mid-day trading, a decline of 94% from the average session volume of 284,630 shares. The stock had previously closed at $33.31.

A number of research firms have recently commented on SRRK. Wedbush lifted their price target on shares of Scholar Rock from $47.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, January 21st. JPMorgan Chase & Co. initiated coverage on shares of Scholar Rock in a report on Wednesday, January 6th. They issued an “overweight” rating and a $59.00 price target on the stock. Credit Suisse Group started coverage on Scholar Rock in a report on Monday, January 11th. They set an “outperform” rating and a $65.00 price objective for the company. BMO Capital Markets upped their price target on Scholar Rock from $54.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, January 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Scholar Rock from a “hold” rating to a “sell” rating in a research note on Wednesday, February 10th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Scholar Rock presently has an average rating of “Buy” and a consensus target price of $61.60.

The business has a 50 day moving average of $54.21 and a 200-day moving average of $44.20. The firm has a market capitalization of $1.09 billion, a P/E ratio of -13.82 and a beta of 0.35.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Monday, March 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.16). Scholar Rock had a negative return on equity of 80.16% and a negative net margin of 365.84%. The business had revenue of $15.40 million for the quarter, compared to the consensus estimate of $6.22 million. Scholar Rock’s revenue for the quarter was down 24.9% on a year-over-year basis. As a group, analysts forecast that Scholar Rock Holding Co. will post -2.63 EPS for the current fiscal year.

In other news, insider Gregory John Carven sold 36,774 shares of the stock in a transaction that occurred on Tuesday, January 26th. The stock was sold at an average price of $59.41, for a total value of $2,184,743.34. Following the completion of the sale, the insider now owns 50,870 shares of the company’s stock, valued at approximately $3,022,186.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Gilman sold 1,804 shares of the stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $65.06, for a total value of $117,368.24. Following the completion of the sale, the director now directly owns 42,155 shares of the company’s stock, valued at approximately $2,742,604.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,079 shares of company stock valued at $2,509,581. Insiders own 24.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its holdings in shares of Scholar Rock by 200.8% in the 4th quarter. Penserra Capital Management LLC now owns 770 shares of the company’s stock valued at $37,000 after buying an additional 514 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Scholar Rock by 139.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,138 shares of the company’s stock valued at $58,000 after buying an additional 662 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Scholar Rock by 177.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,660 shares of the company’s stock valued at $50,000 after buying an additional 1,061 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Scholar Rock in the 4th quarter valued at approximately $117,000. Finally, Jane Street Group LLC acquired a new stake in shares of Scholar Rock in the 4th quarter valued at approximately $213,000. 61.87% of the stock is owned by institutional investors.

Scholar Rock Company Profile (NASDAQ:SRRK)

Scholar Rock Holding Corporation, a 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.

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