BlackRock Inc. acquired a new position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 9,494,084 shares of the company's stock, valued at approximately $522,175,000. BlackRock Inc. owned approximately 7.92% of Scholar Rock at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in SRRK. IFP Advisors Inc increased its position in shares of Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company's stock worth $27,000 after purchasing an additional 450 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Scholar Rock during the 4th quarter worth $30,000. Summit Securities Group LLC purchased a new stake in shares of Scholar Rock during the fourth quarter worth $31,000. EverSource Wealth Advisors LLC raised its position in shares of Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company's stock valued at $38,000 after buying an additional 525 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Scholar Rock in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 91.08% of the company's stock.
Analyst Ratings Changes
SRRK has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Scholar Rock from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Scholar Rock in a report on Thursday, June 18th. BMO Capital Markets reiterated an "outperform" rating and set a $76.00 price objective on shares of Scholar Rock in a research report on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Scholar Rock in a research note on Friday, July 17th. Finally, Wedbush restated an "outperform" rating and issued a $64.00 target price on shares of Scholar Rock in a report on Friday. Four analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Scholar Rock has a consensus rating of "Buy" and an average price target of $58.77.
Check Out Our Latest Stock Analysis on SRRK
Insider Buying and Selling at Scholar Rock
In related news, Director Kristina Burow sold 3,053 shares of Scholar Rock stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total value of $164,068.22. Following the completion of the transaction, the director owned 114,657 shares in the company, valued at $6,161,667.18. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katie Peng sold 5,446 shares of Scholar Rock stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $293,430.48. Following the sale, the director directly owned 34,301 shares of the company's stock, valued at approximately $1,848,137.88. This trade represents a 13.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 17,149 shares of company stock valued at $923,108. Insiders own 10.30% of the company's stock.
Scholar Rock Stock Performance
NASDAQ:SRRK opened at $58.20 on Tuesday. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $58.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02. The company has a 50 day moving average price of $52.10 and a 200 day moving average price of $48.56. The stock has a market capitalization of $7.09 billion, a P/E ratio of -16.87 and a beta of 0.69.
Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.84). During the same period in the previous year, the company posted ($0.98) earnings per share. Equities research analysts forecast that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.
Scholar Rock Company Profile
(
Free Report)
Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company's research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock's approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.
The company's lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).
Further Reading
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