EFG International AG acquired a new position in Scholar Rock Holding Corporation (NASDAQ:SRRK – Free Report) during the second quarter, Holdings Channel.com reports. The firm acquired 110,634 shares of the company’s stock, valued at approximately $6,082,000.
Several other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Scholar Rock by 20.8% during the second quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock valued at $77,000 after purchasing an additional 242 shares during the period. Values First Advisors Inc. grew its position in Scholar Rock by 1.5% during the 1st quarter. Values First Advisors Inc. now owns 18,850 shares of the company’s stock worth $927,000 after purchasing an additional 286 shares during the period. IFP Advisors Inc grew its position in Scholar Rock by 294.1% during the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after purchasing an additional 450 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Scholar Rock by 151.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after buying an additional 525 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Scholar Rock by 0.9% during the 2nd 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. Hedge funds and other institutional investors own 91.08% of the company’s stock.
Scholar Rock Trading Up 0.1%
Shares of Scholar Rock stock opened at $58.25 on Wednesday. The firm has a 50-day simple moving average of $52.36 and a two-hundred day simple moving average of $48.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $59.48. The company has a market cap of $7.09 billion, a P/E ratio of -16.88 and a beta of 0.69.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on SRRK shares. JPMorgan Chase & Co. boosted their price objective on Scholar Rock from $56.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. BMO Capital Markets reiterated an “outperform” rating and set a $76.00 price target on shares of Scholar Rock in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $65.00 price objective on shares of Scholar Rock in a research report on Monday, August 10th. Finally, Wedbush reaffirmed an “outperform” rating and set a $64.00 price objective on shares of Scholar Rock in a research note on Friday. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $58.77.
Get Our Latest Analysis on SRRK
Insider Activity at Scholar Rock
In other Scholar Rock news, Director Kristina Burow sold 3,053 shares of the firm’s stock in a transaction that occurred on 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 114,657 shares of the company’s stock, valued at approximately $6,161,667.18. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Joshua Reed sold 3,053 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 of the company’s stock, valued at $1,048,897.32. This trade represents a 13.53% 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. Insiders have sold a total of 17,149 shares of company stock valued at $923,108 in the last ninety 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).
Read More
- Five stocks we like better than Scholar Rock
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding SRRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scholar Rock Holding Corporation (NASDAQ:SRRK – Free Report).
Receive News & Ratings for Scholar Rock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholar Rock and related companies with MarketBeat.com's FREE daily email newsletter.
