Jennison Associates LLC Acquires 1,188,676 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Jennison Associates LLC boosted its stake in Scholar Rock by 74.0% in Q4, buying 1,188,676 shares to hold 2,795,188 shares (about 2.74% of the company) valued at roughly $123.1 million.
• Company insiders sold shares on April 16 to cover tax withholding from vested awards (CFO Vikas Sinha sold 10,410 shares; Akshay Vaishnaw sold 12,246), and insiders have sold 102,736 shares (~$4.98M) over the last three months while still owning 13.30% of the stock.
• Wall Street is broadly positive with a consensus Buy rating and an average target of $55.40; the stock trades around $46.20 (market cap ~$5.51B) and last reported EPS of -$0.76, narrowly beating estimates.

Jennison Associates LLC grew its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 74.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,795,188 shares of the company's stock after purchasing an additional 1,188,676 shares during the period. Jennison Associates LLC owned approximately 2.74% of Scholar Rock worth $123,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ramirez Asset Management Inc. acquired a new stake in shares of Scholar Rock during the 3rd quarter valued at $37,000. Penserra Capital Management LLC acquired a new stake in shares of Scholar Rock during the 3rd quarter valued at $56,000. Strs Ohio acquired a new stake in shares of Scholar Rock during the 1st quarter valued at $77,000. Bessemer Group Inc. boosted its holdings in shares of Scholar Rock by 970.0% during the 3rd quarter. Bessemer Group Inc. now owns 2,322 shares of the company's stock valued at $86,000 after acquiring an additional 2,105 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Scholar Rock by 81.6% during the 3rd quarter. US Bancorp DE now owns 2,822 shares of the company's stock valued at $105,000 after acquiring an additional 1,268 shares in the last quarter. Institutional investors own 91.08% of the company's stock.

Insider Buying and Selling

In other news, CFO Vikas Sinha sold 10,410 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 value 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. The trade was a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Akshay Vaishnaw sold 12,246 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $607,034.22. Following the transaction, the insider directly owned 630,542 shares in the company, valued at approximately $31,255,966.94. This trade represents a 1.91% 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. Insiders sold 102,736 shares of company stock worth $4,977,900 over the last three months. Insiders own 13.30% of the company's stock.

Scholar Rock Stock Down 0.2%

Shares of NASDAQ:SRRK opened at $46.20 on Thursday. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -13.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.95 and a quick ratio of 6.95. The business's 50-day moving average is $46.20 and its 200-day moving average is $42.48. Scholar Rock Holding Corporation has a 1 year low of $27.07 and a 1 year high of $51.63.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.86) by $0.10. During the same period last year, the company earned ($0.64) earnings per share. Equities research analysts predict that Scholar Rock Holding Corporation will post -3.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SRRK shares. Raymond James Financial reissued a "strong-buy" rating on shares of Scholar Rock in a report on Tuesday, March 3rd. UBS Group started coverage on Scholar Rock in a report on Wednesday, January 7th. They set a "buy" rating and a $60.00 price objective on the stock. Canaccord Genuity Group started coverage on Scholar Rock in a report on Monday, April 20th. They set a "buy" rating and a $62.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Scholar Rock in a report on Tuesday, April 21st. Finally, Citigroup lifted their target price on Scholar Rock from $55.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Five research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Scholar Rock has a consensus rating of "Buy" and an average target price of $55.40.

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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