Granahan Investment Management LLC Increases Stake in Scholar Rock Holding Corporation $SRRK

Granahan Investment Management LLC raised its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 18.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 153,769 shares of the company’s stock after acquiring an additional 23,855 shares during the period. Granahan Investment Management LLC’s holdings in Scholar Rock were worth $6,774,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SRRK. AQR Capital Management LLC grew its holdings in Scholar Rock by 609.3% during the 1st quarter. AQR Capital Management LLC now owns 57,294 shares of the company’s stock valued at $1,842,000 after buying an additional 49,217 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Scholar Rock by 12.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,046 shares of the company’s stock valued at $1,709,000 after buying an additional 5,831 shares in the last quarter. Millennium Management LLC grew its holdings in Scholar Rock by 37.4% during the 1st quarter. Millennium Management LLC now owns 200,255 shares of the company’s stock valued at $6,438,000 after buying an additional 54,555 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Scholar Rock by 25.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company’s stock valued at $5,460,000 after buying an additional 34,594 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Scholar Rock during the 1st quarter valued at approximately $77,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a report on Tuesday, April 21st. Canaccord Genuity Group assumed coverage on shares of Scholar Rock in a report on Monday, April 20th. They set a “buy” rating and a $62.00 price objective for the company. BMO Capital Markets increased their price objective on shares of Scholar Rock from $50.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Piper Sandler increased their price objective 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. Finally, HC Wainwright increased their price objective on shares of Scholar Rock from $58.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and an average price target of $56.00.

Insider Buying and Selling at Scholar Rock

In related news, COO Keith Woods sold 10,220 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total value of $506,605.40. Following the completion of the transaction, the chief operating officer directly owned 620,055 shares of the company’s stock, valued at approximately $30,736,126.35. This trade represents a 1.62% decrease in their ownership of the stock. The transaction 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, CFO Vikas Sinha sold 10,410 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $516,023.70. Following the completion of the transaction, the chief financial officer directly owned 619,856 shares of the company’s stock, valued at approximately $30,726,261.92. This trade represents a 1.65% decrease in their ownership of the stock. 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 ninety days, insiders sold 63,491 shares of company stock valued at $3,147,249. 13.30% of the stock is owned by company insiders.

Scholar Rock Trading Down 0.8%

SRRK stock opened at $45.56 on Wednesday. The firm has a fifty day moving average price of $47.71 and a 200 day moving average price of $45.90. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $52.19. The company has a debt-to-equity ratio of 0.71, a quick ratio of 8.64 and a current ratio of 8.64. The firm has a market cap of $5.46 billion, a PE ratio of -12.69 and a beta of 0.69.

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

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).