Recent News
On June 22, 2026 the company resubmitted its Biologics License Application (BLA) for apitegromab for the treatment of children and adults with spinal muscular atrophy. On May 5, 2026 Scholar Rock published its 2026 strategic priorities outlining supply readiness, timing expectations and development priorities tied to apitegromab and its pipeline.
Technical Analysis
Directional indicators show a bullish signal: DI+ at 32.25 (increasing) with DI- at 13.37 (decreasing) and ADX at 29.11, indicating a strong non-directional trend strength that favors upward price bias given the DI configuration.
MACD sits at 1.6 with the MACD signal at 0.6 and the MACD trend increasing; the MACD currently trades above its signal line, a bullish momentum confirmation that supports near-term continuation of the advance.
MRO reads 28.33 and is increasing; because MRO is positive, price sits above its target and faces a technical probability of near-term mean reversion, adding pullback risk to the prevailing upside bias.
RSI at 55.96 and rising indicates moderate bullish momentum without immediate overbought stress. Price equals $55.00 and trades above the 20-day ($49.29), 50-day ($47.99) and 200-day ($42.85) averages, with the 12-day EMA rising—these align with a trending price structure that corroborates the bullish MACD/DI picture while leaving room for short-term consolidation near upper Bollinger levels.
Fundamental Analysis
Profitability and operating results remain loss-making: net income totaled -$105,510,000 and EBIT equaled -$103,208,000 for the period ending March 31, 2026. EPS actual registered -$0.83 versus an estimate of -$0.78, an EPS surprise of -6.41%.
Cash and liquidity stand out: cash and short-term investments total $479,944,000 and beginning-to-end period cash flow rose by $107,016,000; operating cash flow registered -$106,260,000 and free cash flow was -$82,169,000. The current ratio stands at 8.64x and the cash ratio at 8.05x, reflecting a deep near-term liquidity cushion despite negative operating cash flow.
Leverage sits at total debt $205,674,000 with debt-to-equity 0.75 and debt-to-assets 0.384; interest expense remained modest relative to capital. Returns show pressure from development costs: return on assets -22.46% and return on equity -38.23%.
Market multiples present a mixed picture: price-to-book equals 19.89x, which falls above the industry peer mean of 7.478 and the industry peer median of 5.4691; the trailing PE stands negative at -55.54 while forward PE sits at -72.66. PEG metrics show divergence: PEG equals 9.78 with a QoQ decline in PEG of -56.54% and a YoY contraction of -296.30%. QoQ and YoY movements: P/B rose ~2.38% QoQ and ~99.56% YoY; current ratio improved ~24.31% QoQ but declined ~15.74% YoY; reported earnings growth jumped ~155.72% QoQ while falling ~157.77% YoY.
WMDST values the stock as under-valued based on the firm’s cash runway, pipeline readouts and the company’s development-stage optionality despite negative earnings and a P/B that sits above the industry peer mean and median.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-07 |
| NEXT REPORT DATE: | 2026-08-06 |
| CASH FLOW | Begin Period Cash Flow | $ 327.3 M |
| Operating Cash Flow | $ -106.26 M | |
| Capital Expenditures | $ -68.00 K | |
| Change In Working Capital | $ 84.0 K | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 107.0 M | |
| End Period Cash Flow | $ 434.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | — | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 335.0 K | |
| Depreciation and Amortization | $ 335.0 K | |
| Research and Development | $ 51.8 M | |
| Total Operating Expenses | $ 102.0 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ -102.87 M | |
| EBIT | $ -103.21 M | |
| Operating Income | $ -102.02 M | |
| Interest Income | $ 2.9 M | |
| Interest Expense | $ 2.3 M | |
| Net Interest Income | $ 633.0 K | |
| Income Before Tax | $ -105.51 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -105.51 M | |
| Net Income From Continuing Operations | $ -105.51 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.78 | |
| EPS Actual | $ -0.83 | |
| EPS Difference | $ -0.05 | |
| EPS Surprise | -6.41 % | |
| Forward EPS | $ -0.59 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 535.3 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 276.0 M | |
| Total Current Assets | $ 515.3 M | |
| Cash and Short-Term Investments | $ 479.9 M | |
| Cash | $ 430.5 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | $ 3.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 9.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 59.6 M | |
| Net Debt | — | |
| Total Debt | $ 205.7 M | |
| Total Liabilities | $ 259.2 M | |
| EQUITY | ||
| Total Equity | $ 276.0 M | |
| Retained Earnings | $ -1.41 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 2.32 | |
| Shares Outstanding | 119.104 M | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | $ 5.5 B |
| Enterprise Value | $ 5.2 B | |
| Enterprise Multiple | -50.71 | |
| Enterprise Multiple QoQ | -1.084 % | |
| Enterprise Multiple YoY | 38.292 % | |
| Enterprise Multiple IPRWA | high: 75.51 median: 27.492 mean: 7.581 SRRK: -50.71 low: -128.217 |
|
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.939 | |
| Asset To Liability | 2.065 | |
| Debt To Capital | 0.427 | |
| Debt To Assets | 0.384 | |
| Debt To Assets QoQ | 42.626 % | |
| Debt To Assets YoY | 148.015 % | |
| Debt To Assets IPRWA | high: 1.112 SRRK: 0.384 mean: 0.167 median: 0.031 low: 0.0 |
|
| Debt To Equity | 0.745 | |
| Debt To Equity QoQ | 67.954 % | |
| Debt To Equity YoY | 268.581 % | |
| Debt To Equity IPRWA | high: 1.864 SRRK: 0.745 mean: 0.192 median: 0.051 low: -1.094 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 19.894 | |
| Price To Book QoQ | 2.377 % | |
| Price To Book YoY | 99.558 % | |
| Price To Book IPRWA | high: 20.93 SRRK: 19.894 mean: 7.478 median: 5.469 low: -11.267 |
|
| Price To Earnings (P/E) | -55.545 | |
| Price To Earnings QoQ | 11.136 % | |
| Price To Earnings YoY | 13.396 % | |
| Price To Earnings IPRWA | high: 74.242 mean: -1.846 median: -14.301 SRRK: -55.545 low: -121.28 |
|
| PE/G Ratio | 9.776 | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | -72.663 | |
| Forward PE/G | 12.788 | |
| 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: 499.798 mean: 219.741 median: 208.031 SRRK: 0 low: -303.652 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | -0.203 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 472.6 M | |
| Net Invested Capital | $ 472.6 M | |
| Invested Capital | $ 472.6 M | |
| Net Tangible Assets | $ 276.0 M | |
| Net Working Capital | $ 455.6 M | |
| LIQUIDITY | ||
| Cash Ratio | 8.047 | |
| Current Ratio | 8.639 | |
| Current Ratio QoQ | 24.314 % | |
| Current Ratio YoY | -15.737 % | |
| Current Ratio IPRWA | high: 32.587 SRRK: 8.639 mean: 3.933 median: 2.409 low: 0.016 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -1.999 | |
| Cost Of Debt | 1.463 % | |
| Interest Coverage Ratio | -44.834 | |
| Interest Coverage Ratio QoQ | 28.472 % | |
| Interest Coverage Ratio YoY | -34.281 % | |
| Interest Coverage Ratio IPRWA | high: 604.866 median: -14.753 SRRK: -44.834 mean: -78.094 low: -1789.522 |
|
| Operating Cash Flow Ratio | -1.782 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 32.399 % | |
| Revenue Growth | — | |
| Revenue Growth QoQ | — | |
| Revenue Growth YoY | — | |
| Revenue Growth IPRWA | — | |
| Earnings Growth | -5.682 % | |
| Earnings Growth QoQ | 155.716 % | |
| Earnings Growth YoY | -157.767 % | |
| Earnings Growth IPRWA | high: 215.789 % median: -5.479 % SRRK: -5.682 % mean: -13.601 % low: -250.0 % |
|
| 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) | $ -82.17 M | |
| Free Cash Flow Yield | -1.496 % | |
| Free Cash Flow Yield QoQ | -5.496 % | |
| Free Cash Flow Yield YoY | -41.009 % | |
| Free Cash Flow Yield IPRWA | high: 11.709 % median: 0.11 % mean: -0.512 % SRRK: -1.496 % low: -45.34 % |
|
| Free Cash Growth | 8.793 % | |
| Free Cash Growth QoQ | -6.952 % | |
| Free Cash Growth YoY | -85.19 % | |
| Free Cash Growth IPRWA | high: 253.163 % SRRK: 8.793 % mean: 4.265 % median: -16.897 % low: -249.577 % |
|
| Free Cash To Net Income | 0.779 | |
| Cash Flow Margin | — | |
| Cash Flow To Earnings | 1.007 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -22.46 % | |
| Return On Assets QoQ | 0.736 % | |
| Return On Assets YoY | 32.625 % | |
| Return On Assets IPRWA | high: 38.074 % median: -8.157 % mean: -13.731 % SRRK: -22.46 % low: -67.817 % |
|
| Return On Capital Employed (ROCE) | -21.7 % | |
| Return On Equity (ROE) | -0.382 | |
| Return On Equity QoQ | 3.16 % | |
| Return On Equity YoY | 59.781 % | |
| Return On Equity IPRWA | high: 0.797 median: -0.11 mean: -0.344 SRRK: -0.382 low: -1.265 |
|
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |