Recent News
On March 31, 2026 Scholar Rock resubmitted its Biologics License Application (BLA) for apitegromab to the U.S. FDA, expanding manufacturing plans to include a second U.S. fill–finish facility. On May 7, 2026 the company published first-quarter 2026 financial results that disclosed a $105.5 million net loss for the quarter and reiterated clinical progress across apitegromab and SRK-439; corporate materials published earlier in 2026 outlined strategic priorities including an IND clearance for apitegromab in FSHD and mid‑2026 initiation expectations for a Phase 2 FSHD study.
Technical Analysis
Directional indicators (ADX / DI+ / DI-): ADX registers 17.98, signaling no established trend; DI+ reads 25.95 and climbs while DI- reads 18.23 and decreases, producing a bullish directional signal that favors near-term upside potential despite the weak trend strength.
MACD: MACD sits at 0.08 with an increasing MACD_trend and the MACD above its signal line (-0.39), a bullish momentum crossover that aligns price momentum with the resubmission news and recent higher closes.
MRO (Momentum/Regression Oscillator): MRO at 21.13 (positive) indicates price trading above the internal target and therefore carries a bias toward mean reversion; the increasing MRO trend suggests the divergence from target has widened and raises the probability of a corrective move after any short-term advance.
RSI: RSI at 52.04 with an increasing trend places momentum in neutral-to-slightly-bullish territory, supporting additional upside without immediate overbought readings.
Price vs. moving averages and bands: Last close $51.27 trades above the 20‑day ($45.92), 50‑day ($47.54) and 200‑day ($42.29) averages, reflecting upward price bias; the close sits above the 1x Bollinger upper band ($48.31), signaling persistent upside momentum but also elevated reversion risk versus the internal target.
Fundamental Analysis
Profitability and cash flow: Quarterly net loss $-105,510,000 and operating cash flow $-106,260,000 reflect ongoing investment in development; EBIT $-103,208,000 and EBITDA $-102,873,000 remain negative. Free cash flow for the period totaled $-82,169,000, producing a free cash flow yield of approximately -1.50%.
Liquidity and capital structure: Cash $430,543,000 and cash and short‑term investments $479,944,000 provide substantial liquidity relative to total current liabilities $59,643,000; current ratio stands at 8.64 and cash ratio at 8.05, indicating ample near-term funding for operations. Total debt $205,674,000 produces debt-to-assets of 0.384 and debt-to-equity of 0.745, reflecting a modest leverage profile versus absolute cash resources.
Returns and growth: Return on assets registers -22.46% and return on equity -38.23%, reflecting loss-making operations. Reported earnings growth (QoQ) shows a -5.68% change; year-over-year earnings growth shows a larger decline (‑157.77%), consistent with continued investment and negative net income trends.
Valuation context: P/B ratio equals 19.89, which sits above the industry peer mean (7.48) and median (5.47) and approaches the industry peer high (20.61), indicating a premium to book value relative to peers. WMDST values the stock as under‑valued; the valuation judgment weighs the company’s significant liquidity and a near-term regulatory milestone against persistent operating losses and negative cash flow.
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: 9.614 SRRK: -50.71 low: -126.596 |
|
| 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: -1.172 |
|
| 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: 7.477 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: -1.842 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: 3.935 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: -77.299 low: -1643.72 |
|
| 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: -5.479 % SRRK: -5.682 % mean: -13.761 % 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: -0.513 % 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: 4.255 % 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: -13.724 % 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 | — | |