Candriam S.C.A. Cuts Stock Holdings in Scholar Rock Holding Corporation $SRRK

Candriam S.C.A. reduced its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 32.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,900 shares of the company’s stock after selling 109,433 shares during the quarter. Candriam S.C.A. owned 0.24% of Scholar Rock worth $8,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SRRK. Bessemer Group Inc. boosted its holdings in Scholar Rock by 970.0% during the 3rd quarter. Bessemer Group Inc. now owns 2,322 shares of the company’s stock valued at $86,000 after acquiring an additional 2,105 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Scholar Rock by 59.9% in the third quarter. Envestnet Asset Management Inc. now owns 20,611 shares of the company’s stock worth $768,000 after purchasing an additional 7,720 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Scholar Rock in the third quarter worth $56,000. Principal Financial Group Inc. raised its holdings in Scholar Rock by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 6,214 shares of the company’s stock valued at $231,000 after buying an additional 456 shares during the last quarter. Finally, Nan Fung Trinity HK Ltd. purchased a new stake in Scholar Rock during the 3rd quarter valued at $1,402,000. Institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling at Scholar Rock

In other news, COO Keith Woods sold 16,746 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $42.70, for a total transaction of $715,054.20. Following the sale, the chief operating officer owned 583,254 shares in the company, valued at approximately $24,904,945.80. The trade was a 2.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Hallal sold 57,450 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $42.70, for a total transaction of $2,453,115.00. Following the completion of the sale, the chief executive officer directly owned 1,541,645 shares in the company, valued at $65,828,241.50. This represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 305,687 shares of company stock valued at $13,540,573. Company insiders own 13.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group began coverage on shares of Scholar Rock in a research report on Wednesday, January 7th. They issued a “buy” rating and a $60.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a report on Thursday, January 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a report on Thursday, December 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a research report on Friday, November 14th. Finally, JPMorgan Chase & Co. upped their target price on Scholar Rock from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and a consensus price target of $51.14.

Scholar Rock Stock Performance

Scholar Rock stock opened at $47.64 on Wednesday. Scholar Rock Holding Corporation has a fifty-two week low of $22.71 and a fifty-two week high of $49.82. The stock’s 50 day simple moving average is $44.91 and its two-hundred day simple moving average is $37.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.30 and a current ratio of 6.30. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of -15.12 and a beta of 0.67.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same period in the previous year, the company earned ($0.66) earnings per share. As a group, analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

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).