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

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

Analyst Upgrades and Downgrades

SRRK has been the subject of a number of research analyst reports. Piper Sandler raised their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Wedbush raised their price target on shares of Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. 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. HC Wainwright raised their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Truist Financial upped their price target on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $40.43.

Scholar Rock Stock Performance

The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.82 billion, a PE ratio of -17.38 and a beta of 0.52. The company has a 50-day moving average price of $37.14 and a two-hundred day moving average price of $21.15.

Insider Buying and Selling at Scholar Rock

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction 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 approximately $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its position in shares of Scholar Rock by 3.1% in the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after purchasing an additional 308,813 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after buying an additional 120,489 shares during the last quarter. Millennium Management LLC raised its position in shares of Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after buying an additional 568,512 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Scholar Rock by 5.1% during the 2nd quarter. Hood River Capital Management LLC now owns 832,792 shares of the company’s stock worth $6,937,000 after acquiring an additional 40,745 shares during the last quarter. Finally, abrdn plc grew its position in Scholar Rock by 28.2% in the third quarter. abrdn plc now owns 748,489 shares of the company’s stock worth $5,995,000 after acquiring an additional 164,715 shares in the last quarter. Hedge funds and other 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.