Pictet Asset Management Holding SA Trims Stake in Scholar Rock Holding Corporation $SRRK

Pictet Asset Management Holding SA lowered its position in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 26.8% in the 1st quarter, Holdings Channel reports. The firm owned 875,084 shares of the company’s stock after selling 320,883 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Scholar Rock were worth $43,019,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of 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 buying an additional 450 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Scholar Rock during the 4th quarter valued at $30,000. Summit Securities Group LLC bought a new position in Scholar Rock in the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 525 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new stake in Scholar Rock in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Insider Transactions at Scholar Rock

In other Scholar Rock news, insider Akshay Vaishnaw sold 12,246 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $607,034.22. Following the completion of the sale, the insider owned 630,542 shares in the company, valued at $31,255,966.94. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 business’s stock in a transaction dated Thursday, April 16th. The stock was 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 owned 619,856 shares of the company’s stock, valued at $30,726,261.92. This represents a 1.65% 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 have sold 63,491 shares of company stock valued at $3,147,249. Insiders own 13.30% of the company’s stock.

Scholar Rock Trading Up 0.1%

SRRK opened at $55.00 on Wednesday. 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 $48.04 and its two-hundred day moving average is $46.42. The company has a market capitalization of $6.59 billion, a P/E ratio of -15.32 and a beta of 0.69. Scholar Rock Holding Corporation has a 52 week low of $27.07 and a 52 week high of $56.54.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same period last year, the firm posted ($0.67) earnings per share. Analysts forecast that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

SRRK has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on shares of Scholar Rock from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Barclays raised their price target on shares of Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. BMO Capital Markets lifted 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. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and an average target price of $56.00.

Scholar Rock 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).