Polar Capital Holdings Plc Buys 527,929 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Polar Capital Holdings Plc increased its stake in Scholar Rock by 66.5% in the fourth quarter, buying 527,929 shares and bringing its total holding to 1.32 million shares valued at about $58.2 million.
• Several other institutional investors also added to their positions, and hedge funds and institutions now own 91.08% of the stock, highlighting strong institutional interest in SRRK.
• Analysts remain broadly bullish: the stock has an average “Buy” rating with a $56 average price target, even as Scholar Rock recently reported a small earnings miss and shares traded around $45.56.

Polar Capital Holdings Plc boosted its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 66.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,322,011 shares of the company's stock after acquiring an additional 527,929 shares during the period. Polar Capital Holdings Plc owned approximately 1.30% of Scholar Rock worth $58,235,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SRRK. IFP Advisors Inc lifted its position in shares of Scholar Rock by 294.1% in the 4th quarter. IFP Advisors Inc now owns 603 shares of the company's stock worth $27,000 after acquiring an additional 450 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Scholar Rock in the fourth quarter valued at $30,000. Ramirez Asset Management Inc. acquired a new position in shares of Scholar Rock in the third quarter valued at $37,000. EverSource Wealth Advisors LLC lifted its position in Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company's stock worth $38,000 after purchasing an additional 525 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new stake in Scholar Rock during the fourth quarter worth $44,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Insider Activity

In other news, CFO Vikas Sinha sold 10,410 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 that occurred on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $506,605.40. Following the completion of the transaction, the chief operating officer owned 620,055 shares of the company's stock, valued at $30,736,126.35. This trade represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 63,491 shares of company stock valued at $3,147,249 over the last three months. 13.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SRRK has been the topic of several analyst reports. Barclays boosted their price target on shares of Scholar Rock from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Canaccord Genuity Group began coverage on shares of Scholar Rock in a research report on Monday, April 20th. They set a "buy" rating and a $62.00 target price on the stock. BMO Capital Markets upped their target price on shares of Scholar Rock from $50.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, March 4th. Wedbush raised their price target on shares of Scholar Rock from $56.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Scholar Rock from $47.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 16th. 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. According to data from MarketBeat.com, Scholar Rock has an average rating of "Buy" and an average price target of $56.00.

Scholar Rock Stock Down 0.8%

Shares of NASDAQ:SRRK opened at $45.56 on Wednesday. The company's fifty day moving average is $47.71 and its 200-day moving average is $45.90. 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 company has a market capitalization of $5.46 billion, a PE ratio of -12.69 and a beta of 0.69.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same period last year, the company earned ($0.67) EPS. Equities research analysts predict that Scholar Rock Holding Corporation will post -3.23 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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