Algert Global LLC increased its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 381.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,350 shares of the company's stock after acquiring an additional 46,220 shares during the quarter. Algert Global LLC's holdings in Scholar Rock were worth $3,209,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of SRRK. IFP Advisors Inc lifted its position in Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company's stock valued at $27,000 after buying an additional 450 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Scholar Rock during the second quarter valued at about $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Scholar Rock during the fourth quarter valued at about $30,000. Summit Securities Group LLC purchased a new stake in shares of Scholar Rock in the 4th quarter valued at approximately $31,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Scholar Rock by 151.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company's stock valued at $38,000 after acquiring an additional 525 shares during the period. Hedge funds and other institutional investors own 91.08% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Cantor Fitzgerald restated an "overweight" rating on shares of Scholar Rock in a report on Thursday, June 18th. Barclays boosted their price target on shares of Scholar Rock from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Citigroup increased their target price on shares of Scholar Rock from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Scholar Rock in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Scholar Rock from $56.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $58.77.
Read Our Latest Report on Scholar Rock
Insider Buying and Selling
In other Scholar Rock news, Director Katie Peng sold 5,446 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total value of $293,430.48. Following the completion of the transaction, the director owned 34,301 shares in the company, valued at approximately $1,848,137.88. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Kristina Burow sold 3,053 shares of the firm's stock in a transaction 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 sale, the director directly owned 114,657 shares of the company's stock, valued at approximately $6,161,667.18. This trade represents a 2.59% 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 have sold 17,149 shares of company stock worth $923,108 in the last three months. Company insiders own 10.30% of the company's stock.
Scholar Rock Stock Down 2.5%
SRRK opened at $57.80 on Friday. Scholar Rock Holding Corporation has a 52 week low of $27.07 and a 52 week high of $61.76. The business has a 50 day moving average price of $53.07 and a two-hundred day moving average price of $48.90. 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 company has a market cap of $7.04 billion, a PE ratio of -16.75 and a beta of 0.69.
Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, hitting the consensus estimate of ($0.84). During the same period last year, the company earned ($0.98) EPS. As a group, research analysts anticipate 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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