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

Key Points

• Casdin Capital LLC opened a new position in Scholar Rock Holding, buying 260,000 shares worth about $11.45 million. The stake represents roughly 0.25% of the company and is Casdin’s 23rd-largest holding.
• Several other institutional investors also increased or initiated positions, and 91.08% of Scholar Rock is owned by institutions. Insider ownership remains notable at 13.30%.
• Scholar Rock reported a smaller-than-expected quarterly loss of $0.83 per share, while analysts remain bullish with an average Buy rating and a consensus price target of $56.

Casdin Capital LLC acquired a new position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 260,000 shares of the company's stock, valued at approximately $11,453,000. Scholar Rock comprises about 0.7% of Casdin Capital LLC's holdings, making the stock its 23rd biggest holding. Casdin Capital LLC owned approximately 0.25% of Scholar Rock as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in Scholar Rock by 294.1% in the 4th quarter. IFP Advisors Inc now owns 603 shares of the company's stock valued at $27,000 after acquiring an additional 450 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $30,000. Ramirez Asset Management Inc. bought a new stake in shares of Scholar Rock during the third quarter valued at approximately $37,000. EverSource Wealth Advisors LLC grew its stake in shares of Scholar Rock by 151.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company's stock valued at $38,000 after purchasing an additional 525 shares during the last quarter. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $44,000. 91.08% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Vikas Sinha sold 10,410 shares of Scholar Rock stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $516,023.70. Following the transaction, the chief financial officer directly owned 619,856 shares of the company's stock, valued at $30,726,261.92. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Keith Woods sold 10,220 shares of Scholar Rock stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $506,605.40. Following the transaction, the chief operating officer directly owned 620,055 shares in the company, valued at approximately $30,736,126.35. This represents a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 63,491 shares of company stock valued at $3,147,249. 13.30% of the stock is owned by company insiders.

Scholar Rock Price Performance

SRRK opened at $46.95 on Thursday. The company has a fifty day moving average price of $47.67 and a two-hundred day moving average price of $45.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 8.64 and a current ratio of 8.64. Scholar Rock Holding Corporation has a 52 week low of $27.07 and a 52 week high of $52.19. The firm has a market capitalization of $5.63 billion, a PE ratio of -13.08 and a beta of 0.69.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.01). During the same period in the previous year, the business earned ($0.67) EPS. As a group, analysts anticipate that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SRRK shares. HC Wainwright increased their price target on shares of Scholar Rock from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Canaccord Genuity Group started coverage on shares of Scholar Rock in a research note on Monday, April 20th. They set a "buy" rating and a $62.00 price target on the stock. Wedbush increased their price target on shares of Scholar Rock from $56.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. Citigroup raised their price objective on shares of Scholar Rock from $55.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. Finally, Truist Financial lifted their target price on shares of Scholar Rock from $44.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $56.00.

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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