Beaconlight Capital LLC Makes New Investment in Scholar Rock Holding Corporation $SRRK

Key Points

• Beaconlight Capital initiated a 87,893-share position in Scholar Rock worth approximately $4.8 million, representing 1.7% of its portfolio and 0.07% of the company. Institutional investors collectively own 91.08% of Scholar Rock.
• Analysts remain broadly bullish, with the stock carrying a “Buy” consensus rating and an average price target of $58.77; individual targets range from $55 to $76.
• Scholar Rock shares opened at $57.80, near their 52-week high of $61.76. The clinical-stage biotech reported quarterly EPS of -$0.84, in line with estimates, while insiders sold shares primarily to cover tax obligations on vested equity awards.

Beaconlight Capital LLC purchased a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 87,893 shares of the company's stock, valued at approximately $4,834,000. Scholar Rock makes up about 1.7% of Beaconlight Capital LLC's investment portfolio, making the stock its 17th largest position. Beaconlight Capital LLC owned 0.07% of Scholar Rock at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Siren L.L.C. boosted its holdings in shares of Scholar Rock by 17.0% in the 4th quarter. Siren L.L.C. now owns 10,825,013 shares of the company's stock worth $476,842,000 after buying an additional 1,575,008 shares during the last quarter. BlackRock Inc. bought a new position in Scholar Rock during the second quarter worth about $522,175,000. Redmile Group LLC grew its stake in Scholar Rock by 73.7% in the 1st quarter. Redmile Group LLC now owns 9,066,621 shares of the company's stock valued at $445,715,000 after buying an additional 3,845,775 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Scholar Rock by 26.7% in the fourth quarter. Wellington Management Group LLP now owns 5,759,428 shares of the company's stock valued at $253,703,000 after purchasing an additional 1,213,541 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Scholar Rock by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 5,195,465 shares of the company's stock valued at $228,860,000 after purchasing an additional 280,538 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Wall Street Analysts Forecast Growth

SRRK has been the topic of a number of recent research reports. HC Wainwright reissued a "buy" rating and set a $65.00 price objective on shares of Scholar Rock in a report on Monday, August 10th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Scholar Rock in a research report on Thursday, June 18th. Barclays upped their price target on Scholar Rock from $53.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. BMO Capital Markets restated an "outperform" rating and issued a $76.00 price objective on shares of Scholar Rock in a research report on Friday, August 7th. Finally, Wedbush restated an "outperform" rating and issued a $64.00 price objective on shares of Scholar Rock in a research report on Friday, August 21st. Four investment 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. Based on data from MarketBeat.com, Scholar Rock presently has an average rating of "Buy" and an average price target of $58.77.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $57.80 on Monday. Scholar Rock Holding Corporation has a 1 year low of $27.07 and a 1 year high of $61.76. The firm has a market cap of $7.04 billion, a PE ratio of -16.75 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02. The company has a 50 day simple moving average of $53.07 and a two-hundred day simple moving average of $48.90.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, hitting analysts' consensus estimates of ($0.84). During the same quarter in the previous year, the firm posted ($0.98) earnings per share. Analysts expect that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Scholar Rock news, Director Jeffrey S. Flier sold 3,053 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $164,495.64. Following the sale, the director owned 27,856 shares in the company, valued at $1,500,881.28. This trade represents a 9.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total value of $293,430.48. Following the sale, the director owned 34,301 shares in the company, valued at $1,848,137.88. The trade was a 13.70% 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 valued at $923,108 over the last quarter. Insiders own 10.30% of the company's stock.

Scholar Rock Profile

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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