Shares of Scholar Rock Holding Co. (NASDAQ:SRRK – Get Free Report) were down 4.3% during mid-day trading on Monday . The stock traded as low as $8.99 and last traded at $8.99. Approximately 243,377 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 802,069 shares. The stock had previously closed at $9.39.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Wedbush restated an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a report on Thursday, August 8th. BMO Capital Markets raised their price objective on shares of Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Scholar Rock in a research note on Tuesday, June 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $26.43.
Check Out Our Latest Report on SRRK
Scholar Rock Stock Performance
Scholar Rock (NASDAQ:SRRK – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.01. During the same quarter last year, the business earned ($0.47) earnings per share. On average, analysts forecast that Scholar Rock Holding Co. will post -2.39 EPS for the current year.
Institutional Investors Weigh In On Scholar Rock
Several institutional investors have recently added to or reduced their stakes in SRRK. American International Group Inc. lifted its position in shares of Scholar Rock by 3.0% during the 1st quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after buying an additional 834 shares during the last quarter. Jennison Associates LLC increased its position in shares of Scholar Rock by 1.0% during the first quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock worth $2,459,000 after purchasing an additional 1,409 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Scholar Rock by 3.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock valued at $383,000 after purchasing an additional 1,594 shares during the period. ProShare Advisors LLC grew its stake in Scholar Rock by 11.7% during the 1st quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock worth $274,000 after buying an additional 1,620 shares during the last quarter. Finally, ClariVest Asset Management LLC lifted its stake in Scholar Rock by 3.0% in the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock valued at $497,000 after buying an additional 1,718 shares during the last quarter. Hedge funds and other 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.
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