iA Global Asset Management Inc. Makes New $5.43 Million Investment in Scholar Rock Holding Corporation $SRRK

Key Points

• iA Global Asset Management disclosed a new stake in Scholar Rock Holding Corporation, buying 123,272 shares worth about $5.43 million in the fourth quarter.
• Several other institutional investors also increased their positions, and 91.08% of Scholar Rock’s stock is now owned by institutions and hedge funds.
• Insiders sold shares recently, including the CFO and CEO, while analysts remain mostly bullish with a consensus Buy rating and a $56 price target.

iA Global Asset Management Inc. bought a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 123,272 shares of the company's stock, valued at approximately $5,430,000. iA Global Asset Management Inc. owned approximately 0.12% of Scholar Rock as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Three Seasons Wealth LLC boosted its position in shares of Scholar Rock by 2.1% during the 4th quarter. Three Seasons Wealth LLC now owns 10,968 shares of the company's stock valued at $483,000 after acquiring an additional 222 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Scholar Rock by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 6,214 shares of the company's stock valued at $231,000 after acquiring an additional 456 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Scholar Rock by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 62,372 shares of the company's stock valued at $2,209,000 after acquiring an additional 577 shares in the last quarter. Tema Etfs LLC boosted its position in shares of Scholar Rock by 6.6% during the 4th quarter. Tema Etfs LLC now owns 9,899 shares of the company's stock valued at $436,000 after acquiring an additional 616 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its position in shares of Scholar Rock by 6.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 11,146 shares of the company's stock valued at $395,000 after acquiring an additional 710 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Vikas Sinha sold 10,410 shares of Scholar Rock stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $516,023.70. Following the completion of 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 position. The sale 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, CEO David Hallal sold 30,615 shares of the business's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $1,517,585.55. Following the completion of the transaction, the chief executive officer directly owned 1,639,034 shares of the company's stock, valued at approximately $81,246,915.38. This represents a 1.83% 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. Insiders sold a total of 102,736 shares of company stock worth $4,977,900 over the last ninety days. Corporate insiders own 13.30% of the company's stock.

Analyst Ratings Changes

SRRK has been the topic of several recent research reports. Wedbush lifted their target price on shares of Scholar Rock from $56.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, April 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Scholar Rock in a research report on Tuesday, April 21st. BMO Capital Markets lifted their target price on shares of Scholar Rock from $50.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, March 4th. Barclays lifted their target price on shares of Scholar Rock from $53.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Finally, Piper Sandler lifted their target price on shares of Scholar Rock from $51.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. Five 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $56.00.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $49.35 on Monday. Scholar Rock Holding Corporation has a 12-month low of $27.07 and a 12-month high of $51.63. The company has a market capitalization of $5.91 billion, a P/E ratio of -13.75 and a beta of 0.70. The firm has a 50-day moving average price of $46.66 and a 200 day moving average price of $43.86. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.71.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same quarter in the previous year, the company earned ($0.67) EPS. Research analysts forecast that Scholar Rock Holding Corporation will post -3.18 earnings per share for the current fiscal year.

About Scholar Rock

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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