Nan Fung Trinity HK Ltd. Buys 225,603 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Nan Fung Trinity HK Ltd. increased its stake in Scholar Rock by 599.3% in the fourth quarter, adding 225,603 shares to reach 263,245 shares valued at about $11.6 million.
• Several other institutional investors also adjusted their holdings, and 91.08% of Scholar Rock’s stock is now owned by institutional investors.
• Scholar Rock reported a quarterly EPS loss of $0.83, missing estimates by a penny, while analysts remain largely positive with an average Buy rating and a consensus price target of $56.

Nan Fung Trinity HK Ltd. lifted its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 599.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 263,245 shares of the company's stock after acquiring an additional 225,603 shares during the period. Nan Fung Trinity HK Ltd. owned approximately 0.26% of Scholar Rock worth $11,596,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wesbanco Bank Inc. bought a new stake in Scholar Rock in the fourth quarter worth $440,000. Strs Ohio lifted its stake in Scholar Rock by 58.8% in the fourth quarter. Strs Ohio now owns 2,700 shares of the company's stock worth $119,000 after purchasing an additional 1,000 shares during the last quarter. MN Wealth Advisors LLC lifted its stake in Scholar Rock by 13.3% in the fourth quarter. MN Wealth Advisors LLC now owns 8,155 shares of the company's stock worth $359,000 after purchasing an additional 959 shares during the last quarter. Jennison Associates LLC lifted its stake in Scholar Rock by 74.0% in the fourth quarter. Jennison Associates LLC now owns 2,795,188 shares of the company's stock worth $123,128,000 after purchasing an additional 1,188,676 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Scholar Rock in the fourth quarter worth $939,000. 91.08% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Junlin Ho sold 9,580 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $46.53, for a total transaction of $445,757.40. Following the completion of the transaction, the general counsel directly owned 241,545 shares of the company's stock, valued at approximately $11,239,088.85. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vikas Sinha sold 10,410 shares of the company's 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 transaction, the chief financial officer directly owned 619,856 shares of the company's stock, valued at approximately $30,726,261.92. This trade represents a 1.65% 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. In the last quarter, insiders sold 102,736 shares of company stock valued at $4,977,900. 13.30% of the stock is owned by corporate insiders.

Scholar Rock Stock Performance

Shares of NASDAQ:SRRK opened at $48.39 on Friday. The company has a market cap of $5.77 billion, a price-to-earnings ratio of -13.48 and a beta of 0.70. The company has a 50-day moving average price of $46.15 and a 200-day moving average price of $43.00. The company has a current ratio of 6.95, a quick ratio of 6.95 and a debt-to-equity ratio of 0.41. Scholar Rock Holding Corporation has a 12 month low of $27.07 and a 12 month high of $51.63.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) 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. As a group, equities analysts anticipate that Scholar Rock Holding Corporation will post -3.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SRRK shares. 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. Weiss Ratings reissued a "sell (d-)" rating on shares of Scholar Rock in a research note on Tuesday, April 21st. Canaccord Genuity Group started coverage on shares of Scholar Rock in a research note on Monday, April 20th. They issued a "buy" rating and a $62.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of Scholar Rock from $47.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, March 16th. Finally, Piper Sandler upped their price objective on shares of Scholar Rock from $51.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, March 4th. Five equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $56.00.

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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