D.A. Davidson & CO. Purchases New Position in Scholar Rock Holding Corporation $SRRK

D.A. Davidson & CO. purchased a new stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,832 shares of the company’s stock, valued at approximately $1,221,000.

Other hedge funds have also bought and sold shares of the company. Orbis Allan Gray Ltd grew its stake in shares of Scholar Rock by 1,034.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,428,929 shares of the company’s stock worth $151,044,000 after purchasing an additional 3,126,677 shares during the period. Wellington Management Group LLP increased its holdings in shares of Scholar Rock by 124.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock valued at $169,289,000 after purchasing an additional 2,521,022 shares in the last quarter. Norges Bank acquired a new position in shares of Scholar Rock in the 4th quarter valued at $91,603,000. Siren L.L.C. lifted its stake in shares of Scholar Rock by 17.0% in the 4th quarter. Siren L.L.C. now owns 10,825,013 shares of the company’s stock valued at $476,842,000 after purchasing an additional 1,575,008 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Scholar Rock by 74.0% during the fourth quarter. Jennison Associates LLC now owns 2,795,188 shares of the company’s stock worth $123,128,000 after buying an additional 1,188,676 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Price Performance

Scholar Rock stock opened at $48.30 on Thursday. The company’s fifty day moving average price is $50.09 and its 200 day moving average price is $47.43. Scholar Rock Holding Corporation has a 1 year low of $27.07 and a 1 year high of $58.49. The stock has a market capitalization of $5.79 billion, a P/E ratio of -13.45 and a beta of 0.67. The company has a debt-to-equity ratio of 0.71, a quick ratio of 8.64 and a current ratio of 8.64.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same period in the prior year, the firm earned ($0.67) EPS. As a group, equities research analysts anticipate that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kristina Burow sold 3,053 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the completion of the sale, the director owned 114,657 shares of the company’s stock, valued at $6,161,667.18. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Gilman sold 2,544 shares of Scholar Rock stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.87, for a total value of $137,045.28. Following the completion of the sale, the director owned 59,511 shares in the company, valued at approximately $3,205,857.57. The trade was a 4.10% 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. Over the last quarter, insiders have sold 17,149 shares of company stock valued at $923,108. 10.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Friday, July 17th. Barclays increased their target price 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. Canaccord Genuity Group assumed coverage on Scholar Rock in a research report on Monday, April 20th. They set a “buy” rating and a $62.00 target price on the stock. Finally, HC Wainwright lifted their price target on Scholar Rock from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Four investment 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. According to MarketBeat, Scholar Rock has a consensus rating of “Buy” and a consensus target price of $56.00.

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).