Recent News
On March 31, 2026 Scholar Rock resubmitted its Biologics License Application (BLA) for apitegromab to the U.S. FDA, including an additional fill‑finish facility in the resubmission after alignment with FDA during a Type C meeting.
On May 7, 2026 the company reported first-quarter 2026 financial results and reiterated readiness for a U.S. launch pending approval, noting a PDUFA action date targeted for late September 2026.
Technical Analysis
ADX sits at 19.26, indicating no durable trend in place; directional movement indicators show recent bearish role‑changes: DI+ registered a peak-and-reversal, signaling bearish pressure as DI+ declines, while DI- experienced a dip-and-reversal, signaling increasing bearish influence.
MACD at 0.33 lies below its signal line at 0.39 and the MACD trend shows a peak-and-reversal, which denotes bearish momentum and a failure of recent upside momentum to sustain itself.
MRO equals 22.77 and trends downward; the positive value indicates price currently exceeds the oscillator’s target and implies downward pressure, while the decreasing MRO trend suggests that that over-target pressure has begun to ease.
RSI near 52 with a peak-and-reversal indicates recent momentum has topped and rotated lower from a short-term peak, consistent with the bearish shift in MACD and the directional indicators.
Price sits at $47.72, below the 12‑day EMA ($48.24) and the 20‑day average ($48.21) but comfortably above the 200‑day average ($40.82). Short‑term moving averages and EMAs show peak-and-reversal behavior, implying short-term weakness against a longer-term uptrend baseline. Bollinger bands place price inside the 1× band range ($46.64–$49.78) and nearer the lower band, reflecting limited downside room within the short-term banded range.
Volume measures run below recent averages (current session ~1.03M vs. 10‑day avg ~1.23M and 50/200‑day averages higher), indicating muted participation behind the latest moves; 42‑day beta of 1.79 implies elevated short‑term volatility relative to the one‑year beta of 1.23.
Fundamental Analysis
Scholar Rock reported EPS of -$0.83 versus an estimate of -$0.80, a negative EPS surprise of -3.75%. Operating and net results remain loss‑making: EBIT -$103.2M and net income -$105.51M, with R&D at $51.8M reflecting active pipeline investment.
Balance sheet strength stands out: cash and short‑term investments total $479.9M and the current ratio measures 863.95%, providing liquidity that supports development and potential near‑term commercial readiness. Free cash flow remains negative at -$82.17M and operating cash flow at -$106.26M, indicating ongoing cash burn from operations despite the strong cash buffer.
Leverage metrics show total debt of $205.67M with debt-to-equity of 74.52% and debt-to-assets of 38.43%, levels that reflect the financing of clinical-stage operations while leaving headroom relative to the company’s cash resources. Interest expense remains modest at $2.30M, and interest coverage reflects negative operating results.
Valuation ratios present stretched multiples: price-to-book at 19.89 sits above the industry peer mean of 7.56 and the industry peer median of 5.61 while remaining below the industry peer high of 20.61; price-to-earnings is negative given losses. Free cash flow yield registers negative at -1.50%, and WMDST values the stock as over‑valued on these fundamentals relative to intrinsic assumptions.
Quarter-over-quarter and year-over-year dynamics: asset growth accelerated ~32.40% YoY, current ratio rose ~24.31% QoQ, and return on equity improved QoQ by +3.16 percentage points year-over-year but remains deeply negative at -38.226% on a trailing basis—signaling early‑stage operational leverage that has yet to convert to profitability.
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 | $ -0.80 | |
| EPS Actual | $ -0.83 | |
| EPS Difference | $ -0.03 | |
| EPS Surprise | -3.75 % | |
| Forward EPS | $ -0.60 | |
| 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: 33.88 mean: 9.231 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: 0.248 median: 0.113 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: 0.29 median: 0.103 low: -1.28 |
|
| 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: 20.609 SRRK: 19.894 mean: 7.556 median: 5.613 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: -1.285 median: -14.354 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: 5.601 median: 3.565 low: 0.05 |
|
| 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 mean: 14.964 median: 3.938 SRRK: -44.834 low: -1946.175 |
|
| 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: 200.0 % median: -4.762 % SRRK: -5.682 % mean: -10.009 % 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: -0.484 % 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 % median: 23.728 % mean: 18.355 % SRRK: 8.793 % 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: 0.896 % mean: -2.812 % SRRK: -22.46 % low: -67.241 % |
|
| 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: 0.022 mean: -0.004 SRRK: -0.382 low: -1.109 |
|
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |