Scholar Rock (NASDAQ:SRRK) Shares Gap Down – Here’s Why

Scholar Rock Holding Co. (NASDAQ:SRRK) 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 changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright lifted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler increased their target price on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Scholar Rock in a research note on Wednesday, January 29th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Trading Down 2.9 %

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’s 50-day moving average is $42.61 and its 200 day moving average is $27.03.

Insider Activity

In related news, CFO Edward H. Myles sold 12,539 shares of the firm’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 $554,223.80. Following the completion of the transaction, the chief financial officer now owns 148,549 shares of the company’s stock, valued at approximately $6,565,865.80. This trade represents a 7.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Junlin Ho sold 9,039 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $399,523.80. Following the transaction, the general counsel now owns 195,037 shares of the company’s stock, valued at approximately $8,620,635.40. This represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 458,974 shares of company stock worth $17,948,788 over the last three months. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after buying an additional 269 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Scholar Rock by 1,321.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock valued at $48,000 after purchasing an additional 1,031 shares during the last quarter. Amalgamated Bank boosted its position in Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock worth $114,000 after purchasing an additional 620 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.