Vanguard Group Inc. Boosts Stake in Scholar Rock Holding Corporation $SRRK

Key Points

• Vanguard Group increased its stake in Scholar Rock Holding by 5.7% in the fourth quarter, bringing its holdings to 5.2 million shares worth about $228.9 million and representing roughly 5.09% of the company.
• Scholar Rock stock rose 4.2% and traded at $48.39, near its 52-week high of $51.63. The company has a market value of $5.77 billion and strong liquidity, with both its quick ratio and current ratio at 6.95.
• The company reported a quarterly loss of ($0.83) per share, slightly worse than analyst expectations, while Wall Street remains broadly positive with a consensus Buy rating and an average price target of $56.

Vanguard Group Inc. grew its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,195,465 shares of the company's stock after purchasing an additional 280,538 shares during the period. Vanguard Group Inc. owned approximately 5.09% of Scholar Rock worth $228,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SRRK. Three Seasons Wealth LLC increased its position in shares of Scholar Rock by 2.1% during the 4th quarter. Three Seasons Wealth LLC now owns 10,968 shares of the company's stock worth $483,000 after purchasing an additional 222 shares during the last quarter. Principal Financial Group Inc. lifted its position in Scholar Rock by 7.9% in the third quarter. Principal Financial Group Inc. now owns 6,214 shares of the company's stock valued at $231,000 after buying an additional 456 shares during the last quarter. California State Teachers Retirement System lifted its position in Scholar Rock by 0.9% in the second quarter. California State Teachers Retirement System now owns 62,372 shares of the company's stock valued at $2,209,000 after buying an additional 577 shares during the last quarter. Tema Etfs LLC boosted its stake in Scholar Rock by 6.6% during the fourth quarter. Tema Etfs LLC now owns 9,899 shares of the company's stock worth $436,000 after buying an additional 616 shares during the period. Finally, E Fund Management Co. Ltd. boosted its stake in Scholar Rock by 6.8% during the second quarter. E Fund Management Co. Ltd. now owns 11,146 shares of the company's stock worth $395,000 after buying an additional 710 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 4.2%

SRRK stock opened at $48.39 on Friday. The company's 50 day moving average price is $46.15 and its 200 day moving average price is $43.00. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of -13.48 and a beta of 0.70. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $51.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.95 and a current ratio of 6.95.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued 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 period in the prior year, the firm posted ($0.67) EPS. On average, equities research analysts anticipate that Scholar Rock Holding Corporation will post -3.11 EPS for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In related news, insider Akshay Vaishnaw sold 12,246 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $607,034.22. Following the transaction, the insider owned 630,542 shares of the company's stock, valued at $31,255,966.94. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mo Qatanani sold 8,484 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $47.07, for a total value of $399,341.88. Following the completion of the sale, the insider owned 98,445 shares in the company, valued at approximately $4,633,806.15. This represents a 7.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 102,736 shares of company stock worth $4,977,900. 13.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SRRK has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target 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. Truist Financial increased their price objective on shares of Scholar Rock from $44.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Piper Sandler lifted their target price on shares of Scholar Rock from $51.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, March 4th. Barclays upped 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. 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 research note on Monday, March 16th. Five 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $56.00.

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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