Scholar Rock (NASDAQ:SRRK) Stock Price Down 5.1% – Here’s Why

by · The Markets Daily

Scholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report) traded down 5.1% during trading on Monday. The company traded as low as $44.59 and last traded at $44.4380. Approximately 908,652 shares changed hands during trading, a decline of 36% from the average daily volume of 1,414,143 shares. The stock had previously closed at $46.81.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SRRK shares. Barclays cut shares of Scholar Rock from an “overweight” rating to a “cautious” rating in a research report on Tuesday, September 15th. TD Cowen reiterated a “buy” rating on shares of Scholar Rock in a research note on Monday, September 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price target on shares of Scholar Rock in a report on Monday, September 21st. JPMorgan Chase & Co. raised their price objective on Scholar Rock from $63.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. Finally, Jefferies Financial Group upped their target price on Scholar Rock from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.75.

View Our Latest Analysis on Scholar Rock

Scholar Rock Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -12.94 and a beta of 0.61. The company has a 50-day simple moving average of $52.26 and a two-hundred day simple moving average of $50.01.

Scholar Rock (NASDAQ:SRRK – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, meeting the consensus estimate of ($0.84). During the same quarter last year, the business posted ($0.98) earnings per share. On average, equities research analysts predict that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.

Hedge Funds Weigh In On Scholar Rock

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP acquired a new stake in Scholar Rock during the 2nd quarter worth about $35,000. Hilton Head Capital Partners LLC acquired a new position in shares of Scholar Rock in the fourth quarter worth about $44,000. PNC Financial Services Group Inc. increased its position in shares of Scholar Rock by 92.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the company’s stock worth $62,000 after acquiring an additional 610 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Scholar Rock by 20.8% in the second quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock worth $77,000 after acquiring an additional 242 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Scholar Rock in the second quarter worth approximately $99,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Scholar Rock

(Get Free Report)

Scholar Rock Holding Corporation (NASDAQ: SRRK) is a clinical-stage biopharmaceutical company focused on developing medicines that selectively target the activation of growth factors. The company’s approach is designed to modulate biologic pathways in specific tissues while potentially limiting effects elsewhere in the body.

Scholar Rock’s lead product candidate is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin, a protein that negatively regulates muscle growth.

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