Recent News
On March 31, 2026 Scholar Rock announced it resubmitted the Biologics License Application for apitegromab for children and adults with spinal muscular atrophy, incorporating Catalent Indiana and a second U.S. fill‑finish facility to align with FDA guidance. Secondary reports confirm the resubmission returns apitegromab to active review and note parallel regulatory activity in the European review process.
Technical Analysis
ADX stands at 19.69, below 20, indicating no established trend; price momentum depends on directional signals rather than a dominant trend.
Directional indicators show bullish bias: DI+ at 22.04 with a dip & reversal signals renewed upside pressure, while DI- at 12.98 decreasing reinforces that bias.
MACD sits at 0.60 and has undergone a dip & reversal; MACD currently trades above its 0.32 signal line, a bullish momentum confirmation that supports short-term upward attempts.
MRO reads 28.21 with a peak & reversal, indicating price sits above the implied target and faces downside pressure from mean‑reversion risk despite other bullish signals.
RSI at 55.22 with a dip & reversal shows momentum returned from a minor pullback but remains mid‑range, not at overbought extremes.
Price sits above key averages: close $51.28 exceeds the 20‑day average $47.63, 50‑day average $46.53 and 200‑day average $40.54, signaling multi‑horizon strength. The 12‑day EMA (price12dayEMA $48.53) shows a dip & reversal consistent with recent recovery attempts.
Bollinger positioning appears stretched: the price slightly exceeds the upper 2× standard deviation band ($51.23), suggesting the recent rally reached an extreme band and raises the chance of a near‑term pullback or consolidation.
Volume runs at 2,189,464, above the 10‑day average 1,327,126 and the 50‑day average 1,546,211, indicating heightened trading interest that can amplify intramarket moves.
Fundamental Analysis
Operational profitability remains negative: EBIT -$88.4M, EBITDA -$88.0M and net loss -$90.97M reflect ongoing development spending typical for late‑stage biotech.
Liquidity and capital structure: cash $323.5M and cash and short‑term investments $367.6M provide material liquidity against total debt $108.9M. Cash and short‑term investments represent roughly 4.2 times the reported operating cash outflow figure, while the cash ratio of 6.63 and current ratio of 6.95 indicate strong short‑term coverage. The current ratio sits above the industry peer mean of 3.74 and above the industry peer median of 2.83.
Balance sheet leverage shows debt to assets 26.94% and debt to equity 44.37%; both measures exceed the industry peer mean values for those metrics, indicating moderately higher leverage relative to peers.
R&D and expense composition: research and development $46.9M represents about 51.0% of total operating expenses $91.9M, underscoring the company’s development focus supporting apitegromab and SRK‑181 programs.
Earnings and market multiples: reported EPS -$0.83 versus estimate -$0.80 produced an EPS surprise of -3.75%. Price/book at 19.43 exceeds the industry peer mean of 5.15 and marginally surpasses the industry peer high of 19.17, signaling a valuation premium versus peers. Forward PE remains negative at -72.29 due to projected losses; PEG sits at 22.49 while forward PEG sits at 32.54, both reflecting market expectations priced into growth forecasts despite negative earnings.
Cash generation and returns: free cash flow -$75.5M and free cash flow yield -1.58% indicate ongoing cash burn. Return on equity -37.06% and return on assets -22.30% reflect negative profitability during the development phase.
Analyst price targets embedded in market data show a mean target $63.82, about 24.5% above the current close $51.28, while the internal valuation assigned here shows the current valuation as over‑valued by WMDST given elevated multiples and negative profitability.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-05-07 |
| NEXT REPORT DATE: | 2026-08-06 |
| CASH FLOW | Begin Period Cash Flow | $ 290.6 M |
| Operating Cash Flow | $ -87.00 M | |
| Capital Expenditures | $ -32.00 K | |
| Change In Working Capital | $ -5.66 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 36.8 M | |
| End Period Cash Flow | $ 327.3 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | — | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 425.0 K | |
| Depreciation and Amortization | $ 425.0 K | |
| Research and Development | $ 46.9 M | |
| Total Operating Expenses | $ 91.9 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ -88.01 M | |
| EBIT | $ -88.43 M | |
| Operating Income | $ -91.90 M | |
| Interest Income | $ 3.5 M | |
| Interest Expense | $ 2.5 M | |
| Net Interest Income | $ 992.0 K | |
| Income Before Tax | $ -90.97 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -90.97 M | |
| Net Income From Continuing Operations | $ -90.97 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.80 | |
| EPS Actual | $ -0.83 | |
| EPS Difference | $ -0.03 | |
| EPS Surprise | -3.75 % | |
| Forward EPS | $ -0.57 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 404.3 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 245.5 M | |
| Total Current Assets | $ 385.1 M | |
| Cash and Short-Term Investments | $ 367.6 M | |
| Cash | $ 323.5 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | $ 3.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 10.3 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 55.4 M | |
| Net Debt | — | |
| Total Debt | $ 108.9 M | |
| Total Liabilities | $ 158.8 M | |
| EQUITY | ||
| Total Equity | $ 245.5 M | |
| Retained Earnings | $ -1.30 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 2.26 | |
| Shares Outstanding | 108.461 M | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | $ 4.8 B |
| Enterprise Value | $ 4.5 B | |
| Enterprise Multiple | -51.265 | |
| Enterprise Multiple QoQ | 76.087 % | |
| Enterprise Multiple YoY | 10.907 % | |
| Enterprise Multiple IPRWA | high: 67.346 median: 46.684 mean: 12.664 SRRK: -51.265 low: -114.076 |
|
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.647 | |
| Asset To Liability | 2.546 | |
| Debt To Capital | 0.307 | |
| Debt To Assets | 0.269 | |
| Debt To Assets QoQ | 0.767 % | |
| Debt To Assets YoY | 96.463 % | |
| Debt To Assets IPRWA | high: 1.032 SRRK: 0.269 mean: 0.118 median: 0.005 low: 0.0 |
|
| Debt To Equity | 0.444 | |
| Debt To Equity QoQ | -1.253 % | |
| Debt To Equity YoY | 151.129 % | |
| Debt To Equity IPRWA | high: 1.524 SRRK: 0.444 mean: 0.142 median: 0.005 low: -0.893 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 19.432 | |
| Price To Book QoQ | 49.501 % | |
| Price To Book YoY | 101.225 % | |
| Price To Book IPRWA | SRRK: 19.432 high: 19.174 median: 6.164 mean: 5.153 low: -10.511 |
|
| Price To Earnings (P/E) | -49.979 | |
| Price To Earnings QoQ | 40.084 % | |
| Price To Earnings YoY | -19.647 % | |
| Price To Earnings IPRWA | high: 71.892 mean: -21.207 median: -32.121 SRRK: -49.979 low: -107.019 |
|
| PE/G Ratio | 22.493 | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | -72.294 | |
| Forward PE/G | 32.536 | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | — | |
| Asset Turnover Ratio QoQ | — | |
| Asset Turnover Ratio YoY | — | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 937.301 mean: 220.236 median: 192.562 SRRK: 0 low: -594.03 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | -0.075 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 345.2 M | |
| Net Invested Capital | $ 345.2 M | |
| Invested Capital | $ 345.2 M | |
| Net Tangible Assets | $ 245.5 M | |
| Net Working Capital | $ 329.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 6.632 | |
| Current Ratio | 6.95 | |
| Current Ratio QoQ | 10.232 % | |
| Current Ratio YoY | -27.7 % | |
| Current Ratio IPRWA | high: 27.397 SRRK: 6.95 mean: 3.738 median: 2.827 low: 0.027 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -1.238 | |
| Cost Of Debt | 2.314 % | |
| Interest Coverage Ratio | -34.898 | |
| Interest Coverage Ratio QoQ | -53.855 % | |
| Interest Coverage Ratio YoY | -43.143 % | |
| Interest Coverage Ratio IPRWA | high: 671.002 mean: 40.568 median: 3.11 SRRK: -34.898 low: -1571.333 |
|
| Operating Cash Flow Ratio | -1.57 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -1.809 % | |
| Revenue Growth | — | |
| Revenue Growth QoQ | — | |
| Revenue Growth YoY | — | |
| Revenue Growth IPRWA | — | |
| Earnings Growth | -2.222 % | |
| Earnings Growth QoQ | -72.78 % | |
| Earnings Growth YoY | -70.671 % | |
| Earnings Growth IPRWA | high: 204.0 % SRRK: -2.222 % median: -14.444 % mean: -16.996 % low: -247.059 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -75.53 M | |
| Free Cash Flow Yield | -1.583 % | |
| Free Cash Flow Yield QoQ | -26.95 % | |
| Free Cash Flow Yield YoY | 13.721 % | |
| Free Cash Flow Yield IPRWA | high: 21.452 % median: 0.303 % mean: 0.183 % SRRK: -1.583 % low: -51.848 % |
|
| Free Cash Growth | 9.45 % | |
| Free Cash Growth QoQ | -189.472 % | |
| Free Cash Growth YoY | -268.09 % | |
| Free Cash Growth IPRWA | high: 177.21 % SRRK: 9.45 % median: -24.526 % mean: -32.998 % low: -201.25 % |
|
| Free Cash To Net Income | 0.83 | |
| Cash Flow Margin | — | |
| Cash Flow To Earnings | 0.956 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -22.296 % | |
| Return On Assets QoQ | -18.014 % | |
| Return On Assets YoY | 9.719 % | |
| Return On Assets IPRWA | high: 33.814 % median: 1.099 % mean: -2.633 % SRRK: -22.296 % low: -65.985 % |
|
| Return On Capital Employed (ROCE) | -25.349 % | |
| Return On Equity (ROE) | -0.371 | |
| Return On Equity QoQ | -11.188 % | |
| Return On Equity YoY | 105.553 % | |
| Return On Equity IPRWA | high: 0.809 median: 0.036 mean: 0.002 SRRK: -0.371 low: -1.16 |
|
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |