Scholar Rock (NASDAQ:SRRK) Shares Gap Down – What’s Next?

Scholar Rock Holding Co. (NASDAQ:SRRK) shares gapped down prior to trading on Monday . The stock had previously closed at $32.81, but opened at $31.17. Scholar Rock shares last traded at $32.48, with a volume of 274,475 shares.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a research report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $42.67.

Scholar Rock Trading Up 3.5 %

The company has a 50 day moving average of $32.51 and a 200-day moving average of $35.74. 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 stock has a market cap of $3.11 billion, a price-to-earnings ratio of -13.94 and a beta of 0.56.

Insider Buying and Selling

In other Scholar Rock news, General Counsel Junlin Ho sold 5,742 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total value of $211,477.86. Following the sale, the general counsel now owns 189,295 shares of the company’s stock, valued at $6,971,734.85. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mo Qatanani sold 68,510 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total value of $2,562,274.00. Following the completion of the sale, the insider now directly owns 111,084 shares in the company, valued at $4,154,541.60. This represents a 38.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,231 shares of company stock valued at $9,220,236. Corporate insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after purchasing an additional 120,489 shares in the last quarter. Barclays PLC raised its position in shares of Scholar Rock by 103.4% during the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after acquiring an additional 84,118 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Scholar Rock by 17.6% during the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock worth $205,013,000 after acquiring an additional 708,817 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Scholar Rock during the 4th quarter worth about $274,000. Finally, Rhumbline Advisers raised its position in shares of Scholar Rock by 13.2% during the 4th quarter. Rhumbline Advisers now owns 113,261 shares of the company’s stock worth $4,895,000 after acquiring an additional 13,247 shares in the last quarter. Institutional investors and hedge funds 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.