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

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) gapped down before the market opened on Wednesday . The stock had previously closed at $44.52, but opened at $41.30. Scholar Rock shares last traded at $43.43, with a volume of 108,403 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wedbush upped their price objective on shares of Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. HC Wainwright raised their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler upped their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets upped their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six 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, the company currently has an average rating of “Buy” and an average price target of $40.43.

Scholar Rock Stock Down 1.3 %

The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a 50-day simple moving average of $31.56 and a 200 day simple moving average of $16.72.

Insiders Place Their Bets

In other news, insider Tracey Sacco sold 30,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the sale, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This represents a 37.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of Scholar Rock stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the transaction, the insider now directly owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. This represents a 3.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,823,322 shares of company stock worth $56,411,627. 19.20% of the stock is currently owned by company insiders.

Institutional Trading of Scholar Rock

Institutional investors have recently added to or reduced their stakes in the business. Clearbridge Investments LLC purchased a new stake in shares of Scholar Rock during the second quarter valued at $6,223,000. SG Americas Securities LLC bought a new stake in shares of Scholar Rock in the third quarter worth approximately $1,093,000. Exchange Traded Concepts LLC raised its holdings in shares of Scholar Rock by 74.6% during the third quarter. Exchange Traded Concepts LLC now owns 101,679 shares of the company’s stock valued at $814,000 after purchasing an additional 43,457 shares during the last quarter. Marshall Wace LLP lifted its position in Scholar Rock by 1,051.3% during the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock valued at $4,059,000 after purchasing an additional 444,961 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Scholar Rock in the 3rd quarter worth approximately $202,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Company Profile

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.