Jennison Associates LLC grew its position in Scholar Rock Holding Corporation (NASDAQ:SRRK – Free Report) by 19.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,340,492 shares of the company’s stock after purchasing an additional 545,304 shares during the quarter. Jennison Associates LLC’s holdings in Scholar Rock were worth $164,219,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in Scholar Rock by 161.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 713,988 shares of the company’s stock worth $26,589,000 after buying an additional 440,401 shares during the last quarter. iA Global Asset Management Inc. purchased a new stake in Scholar Rock in the fourth quarter valued at about $5,430,000. Geode Capital Management LLC raised its stake in Scholar Rock by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 2,034,024 shares of the company’s stock valued at $89,616,000 after buying an additional 79,214 shares during the last quarter. Norges Bank acquired a new stake in Scholar Rock in the fourth quarter worth about $91,603,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Scholar Rock by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 702,095 shares of the company’s stock worth $30,927,000 after acquiring an additional 25,060 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Scholar Rock
In other news, Director Katie Peng sold 5,446 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total value of $293,430.48. Following the sale, the director owned 34,301 shares in the company, valued at $1,848,137.88. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 company’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 completion of the sale, the director owned 19,518 shares in the company, valued at $1,048,897.32. The trade was 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. In the last three months, insiders have sold 17,149 shares of company stock worth $923,108. Insiders own 10.30% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Research Report on SRRK
Scholar Rock Stock Up 2.2%
NASDAQ:SRRK opened at $52.86 on Friday. 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 company’s fifty day moving average price is $50.05 and its 200-day moving average price is $47.28. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $58.49. The firm has a market capitalization of $6.33 billion, a P/E ratio of -14.72 and a beta of 0.67.
Scholar Rock (NASDAQ:SRRK – Get Free Report) last posted its 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 business posted ($0.67) EPS. As a group, equities research analysts anticipate that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.
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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