Scholar Rock Holding Corporation $SRRK Shares Purchased by Redmile Group LLC

Redmile Group LLC grew its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 73.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,066,621 shares of the company's stock after acquiring an additional 3,845,775 shares during the quarter. Scholar Rock accounts for about 29.5% of Redmile Group LLC's investment portfolio, making the stock its largest holding. Redmile Group LLC owned about 7.57% of Scholar Rock worth $445,715,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SRRK. Rock Springs Capital Management LP lifted its holdings in shares of Scholar Rock by 0.9% during the 1st quarter. Rock Springs Capital Management LP now owns 739,816 shares of the company's stock valued at $36,369,000 after purchasing an additional 6,339 shares in the last quarter. Eagle Health Investments LP increased its stake in Scholar Rock by 36.0% during the 1st quarter. Eagle Health Investments LP now owns 494,019 shares of the company's stock worth $24,286,000 after purchasing an additional 130,719 shares in the last quarter. Quantinno Capital Management LP increased its stake in Scholar Rock by 67.2% during the 1st quarter. Quantinno Capital Management LP now owns 11,272 shares of the company's stock worth $554,000 after purchasing an additional 4,532 shares in the last quarter. Granahan Investment Management LLC increased its stake in Scholar Rock by 1.7% during the 1st quarter. Granahan Investment Management LLC now owns 156,314 shares of the company's stock worth $7,684,000 after purchasing an additional 2,545 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Scholar Rock by 18.9% during the 1st quarter. Sei Investments Co. now owns 143,359 shares of the company's stock worth $7,047,000 after buying an additional 22,832 shares during the period. Institutional investors and hedge funds own 91.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Scholar Rock in a research note on Friday, July 17th. Barclays increased their price objective on shares of Scholar Rock from $53.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Canaccord Genuity Group began coverage on shares of Scholar Rock in a report on Monday, April 20th. They set a "buy" rating and a $62.00 price objective on the stock. HC Wainwright boosted their price objective on shares of Scholar Rock from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Scholar Rock in a research note on Thursday, June 18th. Four 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 presently has an average rating of "Buy" and a consensus price target of $56.00.

Scholar Rock Stock Up 0.9%

Shares of Scholar Rock stock opened at $49.37 on Wednesday. The firm has a market cap of $5.92 billion, a PE ratio of -13.75 and a beta of 0.67. The business's 50 day simple moving average is $50.09 and its 200 day simple moving average is $47.60. 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 $58.49.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.01). During the same period in the previous year, the business earned ($0.67) earnings per share. On average, analysts predict that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kristina Burow sold 3,053 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the completion of the transaction, the director owned 114,657 shares in the company, valued at approximately $6,161,667.18. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joshua Reed sold 3,053 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the completion of the transaction, the director directly owned 19,518 shares of the company's stock, valued at approximately $1,048,897.32. This trade represents a 13.53% decrease in their position. 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 have sold a total of 17,149 shares of company stock valued at $923,108 over the last 90 days. 10.30% of the stock is currently owned by company insiders.

Scholar Rock Company 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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