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 $39.95, but opened at $38.66. Scholar Rock shares last traded at $39.16, with a volume of 77,094 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SRRK. Piper Sandler upped 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. Wedbush reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Scholar Rock in a report on Wednesday, January 29th. Truist Financial upped their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright raised their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Scholar Rock has a consensus rating of “Buy” and an average target price of $40.43.

Scholar Rock Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The firm has a 50-day moving average of $42.61 and a 200 day moving average of $27.03.

Insider Activity

In other news, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $249,951.00. Following the sale, the insider now owns 67,200 shares in the company, valued at approximately $2,970,240. The trade was a 7.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the sale, the insider now owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 458,974 shares of company stock worth $17,948,788. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock valued at $205,013,000 after purchasing an additional 708,817 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Scholar Rock in the 4th quarter valued at $28,394,000. Fisher Asset Management LLC raised its position in shares of Scholar Rock by 593.6% during the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock worth $5,879,000 after acquiring an additional 628,186 shares during the last quarter. FMR LLC lifted its stake in shares of Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock valued at $81,670,000 after acquiring an additional 308,813 shares during the period. Finally, Sphera Funds Management LTD. bought a new position in Scholar Rock in the third quarter valued at about $1,337,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Scholar Rock

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.