Scholar Rock (NASDAQ:SRRK) Shares Down 5.5% – Time to Sell?

Scholar Rock Holding Co. (NASDAQ:SRRK)’s share price traded down 5.5% during mid-day trading on Tuesday . The stock traded as low as $30.75 and last traded at $30.38. 976,933 shares changed hands during trading, a decline of 17% from the average session volume of 1,172,661 shares. The stock had previously closed at $32.15.

Analyst Upgrades and Downgrades

Separately, Wedbush restated an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $42.67.

Scholar Rock Trading Down 5.7 %

The company has a market cap of $2.91 billion, a price-to-earnings ratio of -13.06 and a beta of 0.56. 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 business has a 50 day simple moving average of $36.64 and a 200 day simple moving average of $33.52.

Insider Buying and Selling at Scholar Rock

In other news, CEO Jay T. Backstrom sold 22,308 shares of Scholar Rock stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total value of $986,013.60. Following the completion of the sale, the chief executive officer now directly owns 330,363 shares of the company’s stock, valued at approximately $14,602,044.60. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward H. Myles sold 142,292 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $35.62, for a total value of $5,068,441.04. Following the transaction, the chief financial officer now directly owns 111,345 shares in the company, valued at $3,966,108.90. This trade represents a 56.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 299,772 shares of company stock worth $11,245,798. 19.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Scholar Rock

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the period. JPMorgan Chase & Co. boosted its stake in Scholar Rock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after acquiring an additional 379 shares during the last quarter. Amalgamated Bank boosted its stake in Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock valued at $114,000 after acquiring an additional 620 shares during the last quarter. Global Retirement Partners LLC grew 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 worth $39,000 after acquiring an additional 766 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of 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 acquiring an additional 1,031 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

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.