Scholar Rock (NASDAQ:SRRK) Trading Down 4.4%


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

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

The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -13.82 and a beta of 0.35. The firm has a 50-day moving average of $54.21 and a 200 day moving average of $44.20.

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

In other news, Director Michael Gilman sold 1,804 shares of the business’s stock in a transaction dated 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 owns 42,155 shares of the company’s stock, valued at approximately $2,742,604.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory John Carven sold 36,774 shares of the stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $59.41, for a total transaction of $2,184,743.34. Following the transaction, the insider now directly owns 50,870 shares in the company, valued at approximately $3,022,186.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,079 shares of company stock valued at $2,509,581. 24.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC increased its stake in Scholar Rock by 200.8% during the fourth quarter. Penserra Capital Management LLC now owns 770 shares of the company’s stock valued at $37,000 after purchasing an additional 514 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in Scholar Rock by 177.1% in the third quarter. Great West Life Assurance Co. Can now owns 1,660 shares of the company’s stock worth $50,000 after acquiring an additional 1,061 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Scholar Rock by 139.1% in the first quarter. Pacer Advisors Inc. now owns 1,138 shares of the company’s stock valued at $58,000 after acquiring an additional 662 shares during the period. Metropolitan Life Insurance Co NY acquired a new stake in shares of Scholar Rock during the 1st quarter worth approximately $108,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Scholar Rock during the fourth quarter worth about $117,000. Institutional investors and hedge funds own 61.87% of the company’s stock.

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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