DNB Asset Management AS Boosts Stock Position in Scholar Rock Holding Corporation $SRRK

DNB Asset Management AS grew its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 63.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 35,059 shares of the company’s stock after acquiring an additional 13,544 shares during the quarter. DNB Asset Management AS’s holdings in Scholar Rock were worth $1,544,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Scholar Rock by 161.0% in the third quarter. JPMorgan Chase & Co. now owns 713,988 shares of the company’s stock valued at $26,589,000 after purchasing an additional 440,401 shares in the last quarter. HighVista Strategies LLC lifted its holdings in Scholar Rock by 90.8% in the third quarter. HighVista Strategies LLC now owns 59,573 shares of the company’s stock valued at $2,218,000 after acquiring an additional 28,343 shares during the last quarter. Nan Fung Trinity HK Ltd. purchased a new position in Scholar Rock in the third quarter worth approximately $1,402,000. Eagle Health Investments LP grew its position in Scholar Rock by 34.9% in the third quarter. Eagle Health Investments LP now owns 363,300 shares of the company’s stock worth $13,529,000 after acquiring an additional 93,900 shares during the period. Finally, Granahan Investment Management LLC grew its position in Scholar Rock by 77.1% in the third quarter. Granahan Investment Management LLC now owns 129,914 shares of the company’s stock worth $4,838,000 after acquiring an additional 56,539 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SRRK shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Scholar Rock in a research report on Tuesday, March 3rd. Piper Sandler increased their price objective on Scholar Rock from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Tuesday, April 21st. Truist Financial increased their price objective on Scholar Rock from $44.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Scholar Rock from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Five investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $56.00.

Scholar Rock Stock Up 1.7%

NASDAQ:SRRK opened at $48.38 on Thursday. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average is $46.81 and its two-hundred day moving average is $44.25. Scholar Rock Holding Corporation has a 52 week low of $27.07 and a 52 week high of $51.63. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of -13.48 and a beta of 0.70.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same period in the prior year, the business posted ($0.67) earnings per share. Research analysts anticipate that Scholar Rock Holding Corporation will post -3.18 EPS for the current year.

Insider Activity at Scholar Rock

In other news, CFO Vikas Sinha sold 10,410 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 $516,023.70. Following the sale, the chief financial officer directly owned 619,856 shares in the company, valued at approximately $30,726,261.92. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Akshay Vaishnaw sold 12,246 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total value of $607,034.22. Following the completion of the sale, the insider owned 630,542 shares in the company, valued at approximately $31,255,966.94. The trade was a 1.91% 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. Insiders sold 71,975 shares of company stock valued at $3,546,591 over the last ninety days. 13.30% of the stock is owned by 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).