Scholar Rock (NASDAQ:SRRK) Downgraded by Zacks Investment Research to “Hold”

Scholar Rock (NASDAQ:SRRK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Scholar Rock Holding Corporation is a biopharmaceutical company. It focused on the discovery and development of medicines for treatment of serious diseases. The company’s product candidate includes SRK-015 and BMP6 which is in pre-clinical stage. Scholar Rock Holding Corporation is based in Cambridge, United States. “

SRRK has been the subject of a number of other reports. Wedbush reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Scholar Rock in a report on Wednesday, May 15th. ValuEngine raised shares of Scholar Rock from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

NASDAQ SRRK traded up $0.47 during midday trading on Wednesday, hitting $11.97. The company had a trading volume of 3,032 shares, compared to its average volume of 100,808. The firm has a fifty day simple moving average of $11.14 and a two-hundred day simple moving average of $16.13. Scholar Rock has a fifty-two week low of $9.30 and a fifty-two week high of $30.00. The company has a quick ratio of 5.88, a current ratio of 5.88 and a debt-to-equity ratio of 0.04. The stock has a market cap of $356.16 million, a price-to-earnings ratio of -3.80 and a beta of 0.08.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.07). The firm had revenue of $5.04 million during the quarter, compared to the consensus estimate of $5.38 million. As a group, equities analysts predict that Scholar Rock will post -1.7 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Magnetar Financial LLC acquired a new position in Scholar Rock during the second quarter valued at approximately $381,000. Susquehanna International Group LLP acquired a new position in shares of Scholar Rock during the 2nd quarter worth approximately $187,000. CVI Holdings LLC bought a new stake in shares of Scholar Rock during the 2nd quarter worth approximately $2,655,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Scholar Rock by 57.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,303,747 shares of the company’s stock valued at $20,677,000 after buying an additional 477,174 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Scholar Rock in the 2nd quarter valued at approximately $380,000. 58.52% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Company Profile

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. Its lead antibody product candidate is SRK-015, an inhibitor of the activation of myostatin, which is in Phase I clinical trials for the treatment of spinal muscular atrophy.

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