Scholar Rock (NASDAQ:SRRK) Stock Price Down 9%

Scholar Rock Holding Co. (NASDAQ:SRRK)’s stock price traded down 9% during mid-day trading on Monday . The stock traded as low as $7.94 and last traded at $7.94. 855,710 shares changed hands during trading, an increase of 5% from the average session volume of 814,371 shares. The stock had previously closed at $8.73.

Analyst Upgrades and Downgrades

SRRK has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a research note on Tuesday, June 25th. Wedbush reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a research note on Thursday, August 8th. Finally, BMO Capital Markets increased their price objective on shares of Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.43.

Scholar Rock Stock Down 1.3 %

The company has a market cap of $586.19 million, a P/E ratio of -3.52 and a beta of 0.82. The firm’s 50 day moving average price is $8.84 and its two-hundred day moving average price is $10.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter last year, the business posted ($0.47) EPS. Equities research analysts anticipate that Scholar Rock Holding Co. will post -2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc boosted its holdings in Scholar Rock by 1.1% during the 4th quarter. TD Asset Management Inc now owns 339,894 shares of the company’s stock worth $6,390,000 after acquiring an additional 3,600 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Scholar Rock in the 4th quarter worth about $711,000. Rafferty Asset Management LLC purchased a new position in shares of Scholar Rock in the 4th quarter worth approximately $2,025,000. Bellevue Group AG grew its holdings in shares of Scholar Rock by 1.5% in the fourth quarter. Bellevue Group AG now owns 2,168,925 shares of the company’s stock valued at $40,776,000 after acquiring an additional 31,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Scholar Rock by 16.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after acquiring an additional 1,149,519 shares during the last quarter. Institutional investors 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.