Artia Global Partners LP bought a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 96,285 shares of the company's stock, valued at approximately $5,296,000. Scholar Rock comprises 1.0% of Artia Global Partners LP's investment portfolio, making the stock its 24th largest position. Artia Global Partners LP owned approximately 0.08% of Scholar Rock at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in Scholar Rock by 294.1% in the 4th 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. Allworth Financial LP acquired a new position in shares of Scholar Rock in the second quarter worth about $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Scholar Rock in the fourth quarter worth approximately $30,000. Summit Securities Group LLC purchased a new position in shares of Scholar Rock in the fourth quarter worth approximately $31,000. Finally, EverSource Wealth Advisors LLC increased 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 worth $38,000 after acquiring an additional 525 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Scholar Rock in a research 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. Wedbush reissued an "outperform" rating and set a $64.00 target price on shares of Scholar Rock in a research note on Friday, August 21st. HC Wainwright restated a "buy" rating and issued a $65.00 target price on shares of Scholar Rock in a report on Monday, August 10th. Finally, Citigroup raised their target price on Scholar Rock from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $58.77.
Check Out Our Latest Report on SRRK
Scholar Rock Trading Up 3.1%
Scholar Rock stock opened at $60.04 on Thursday. Scholar Rock Holding Corporation has a 12 month low of $27.07 and a 12 month high of $61.76. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 0.77. The stock has a market cap of $7.31 billion, a P/E ratio of -17.40 and a beta of 0.69. The company's fifty day simple moving average is $52.62 and its 200-day simple moving average is $48.75.
Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.84). During the same period in the previous year, the business earned ($0.98) EPS. As a group, sell-side analysts forecast that Scholar Rock Holding Corporation will post -3.23 EPS for the current fiscal year.
Insider Buying and Selling at Scholar Rock
In related news, Director Jeffrey S. Flier sold 3,053 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total value of $164,495.64. Following the completion of the sale, the director owned 27,856 shares of the company's stock, valued at approximately $1,500,881.28. The trade was a 9.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joshua Reed sold 3,053 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 19,518 shares in the company, valued at $1,048,897.32. This represents a 13.53% decrease in their position. 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. Insiders sold 17,149 shares of company stock worth $923,108 over the last quarter. Insiders own 10.30% of the company's stock.
Scholar Rock Profile
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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).
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