Scholar Rock Holding Corporation $SRRK is Eventide Asset Management LLC's 9th Largest Position

Eventide Asset Management LLC lowered its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 13.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,431,333 shares of the company's stock after selling 368,123 shares during the period. Scholar Rock accounts for 1.7% of Eventide Asset Management LLC's investment portfolio, making the stock its 9th largest position. Eventide Asset Management LLC owned 2.38% of Scholar Rock worth $107,093,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Three Seasons Wealth LLC boosted its stake in Scholar Rock by 2.1% during the fourth quarter. Three Seasons Wealth LLC now owns 10,968 shares of the company's stock worth $483,000 after buying an additional 222 shares during the last quarter. IFP Advisors Inc boosted its stake in Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company's stock worth $27,000 after buying an additional 450 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Scholar Rock by 7.9% during the third quarter. Principal Financial Group Inc. now owns 6,214 shares of the company's stock worth $231,000 after buying an additional 456 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Scholar Rock by 151.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company's stock worth $38,000 after buying an additional 525 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Scholar Rock by 0.9% during the second quarter. California State Teachers Retirement System now owns 62,372 shares of the company's stock worth $2,209,000 after buying an additional 577 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company's stock.

Insider Transactions at Scholar Rock

In related news, CEO David Hallal sold 30,615 shares of the 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 transaction, the chief executive officer 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Vikas Sinha sold 10,410 shares of the 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 in the company, valued at approximately $30,726,261.92. The trade was a 1.65% 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 worth $3,147,249 in the last 90 days. Insiders own 13.30% of the company's stock.

Scholar Rock Trading Down 1.1%

NASDAQ SRRK opened at $44.18 on Friday. The firm's 50-day moving average is $47.88 and its two-hundred day moving average is $45.82. Scholar Rock Holding Corporation has a 12 month low of $27.07 and a 12 month high of $52.19. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.64 and a quick ratio of 8.64. The stock has a market capitalization of $5.29 billion, a P/E ratio of -12.31 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) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.01). During the same quarter in the prior year, the business earned ($0.67) EPS. On average, sell-side analysts anticipate that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SRRK shares. Piper Sandler boosted their price objective on Scholar Rock from $51.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. BMO Capital Markets boosted their price objective on Scholar Rock from $50.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 4th. Truist Financial upped their price target on Scholar Rock from $44.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Wedbush upped their price target on Scholar Rock from $56.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Scholar Rock in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Scholar Rock has a consensus 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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