SG Americas Securities LLC Cuts Stake in Scholar Rock Holding Corporation $SRRK

Key Points

• SG Americas Securities LLC sharply reduced its stake in Scholar Rock by 89.8% in the first quarter, leaving it with 8,625 shares worth about $424,000.
• Several insiders sold shares in early July, including directors Michael Gilman and Katie Peng; the sales were made to cover tax withholding tied to equity awards.
• Despite the selling, Wall Street remains optimistic: analysts have a Buy consensus on Scholar Rock with an average price target of $56, close to the stock’s recent trading level.

SG Americas Securities LLC decreased its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 89.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,625 shares of the company's stock after selling 75,724 shares during the period. SG Americas Securities LLC's holdings in Scholar Rock were worth $424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. IFP Advisors Inc lifted its stake in Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company's stock worth $27,000 after purchasing an additional 450 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Scholar Rock during the fourth quarter valued at about $30,000. Summit Securities Group LLC bought a new position in shares of Scholar Rock during the fourth quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 525 shares during the period. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Scholar Rock in the fourth quarter worth about $44,000. Institutional investors own 91.08% of the company's stock.

Insider Transactions at Scholar Rock

In other news, Director Michael Gilman sold 2,544 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.87, for a total transaction of $137,045.28. Following the transaction, the director directly owned 59,511 shares of the company's stock, valued at approximately $3,205,857.57. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a 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, Director Katie Peng sold 5,446 shares of Scholar Rock stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total transaction of $293,430.48. Following the completion of the sale, the director owned 34,301 shares in the company, valued at approximately $1,848,137.88. This trade represents a 13.70% 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. In the last quarter, insiders sold 80,640 shares of company stock worth $4,070,357. Corporate insiders own 13.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. HC Wainwright increased their target price on Scholar Rock from $58.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 8th. Barclays lifted their price target on Scholar Rock from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on Scholar Rock from $47.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, March 16th. Cantor Fitzgerald reissued an "overweight" rating on shares of Scholar Rock in a research note on Thursday, June 18th. Finally, Wedbush raised their target price on shares of Scholar Rock from $56.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, April 1st. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Scholar Rock has a consensus rating of "Buy" and an average price target of $56.00.

Scholar Rock Stock Performance

Scholar Rock stock opened at $56.03 on Thursday. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.71. The firm has a market cap of $6.71 billion, a P/E ratio of -15.61 and a beta of 0.67. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $57.80. The firm has a 50-day moving average of $48.99 and a 200-day moving average of $46.85.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.01). During the same quarter in the prior year, the firm posted ($0.67) earnings per share. Sell-side analysts expect that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.

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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