Candriam S.C.A. boosted its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK – Free Report) by 55.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 225,998 shares of the company’s stock after acquiring an additional 80,365 shares during the quarter. Candriam S.C.A.’s holdings in Scholar Rock were worth $11,110,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in SRRK. IFP Advisors Inc grew its position 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 acquiring an additional 450 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Scholar Rock during the 4th quarter valued at $30,000. Summit Securities Group LLC bought a new position in shares of Scholar Rock during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC lifted its stake in shares of Scholar Rock by 151.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after purchasing an additional 525 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Scholar Rock in the 4th quarter valued at $44,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.
Scholar Rock Price Performance
NASDAQ SRRK opened at $56.71 on Monday. 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 company has a fifty day simple moving average of $49.42 and a 200 day simple moving average of $47.03. The company has a market cap of $6.80 billion, a P/E ratio of -15.80 and a beta of 0.67. Scholar Rock Holding Corporation has a 1 year low of $27.07 and a 1 year high of $58.49.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Barclays increased their target price 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. HC Wainwright boosted their price target on Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wedbush upped their price target on Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Canaccord Genuity Group assumed coverage on Scholar Rock in a report on Monday, April 20th. They set a “buy” rating and a $62.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised 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. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and an average target price of $56.00.
Read Our Latest Report on SRRK
Insider Activity at Scholar Rock
In other news, Director Joshua Reed sold 3,053 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total value of $164,068.22. Following the sale, 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 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 Jeffrey S. Flier sold 3,053 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total value of $164,495.64. Following the completion of the sale, the director directly owned 27,856 shares in the company, valued at approximately $1,500,881.28. This represents a 9.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 80,640 shares of company stock valued at $4,070,357. 10.30% of the stock is owned by corporate insiders.
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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