D.A. Davidson & CO. Acquires Shares of 24,832 Scholar Rock Holding Corporation $SRRK

D.A. Davidson & CO. bought a new position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 24,832 shares of the company’s stock, valued at approximately $1,221,000.

Other large investors have also modified their holdings of the company. Jennison Associates LLC raised its position in shares of Scholar Rock by 74.0% in the fourth quarter. Jennison Associates LLC now owns 2,795,188 shares of the company’s stock valued at $123,128,000 after buying an additional 1,188,676 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in Scholar Rock during the fourth quarter worth about $5,430,000. Geode Capital Management LLC boosted its position in Scholar Rock by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 2,034,024 shares of the company’s stock worth $89,616,000 after acquiring an additional 79,214 shares during the last quarter. Norges Bank purchased a new stake in Scholar Rock during the 4th quarter valued at about $91,603,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Scholar Rock by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 702,095 shares of the company’s stock valued at $30,927,000 after acquiring an additional 25,060 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SRRK. 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. Barclays boosted their target price on Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Wedbush restated an “outperform” rating and issued a $58.00 target price on shares of Scholar Rock in a report on Tuesday. Finally, Canaccord Genuity Group assumed coverage on Scholar Rock in a report on Monday, April 20th. They set a “buy” rating and a $62.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $56.00.

Insider Buying and Selling

In other Scholar Rock news, Director Katie Peng sold 5,446 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $293,430.48. Following the completion of the sale, the director owned 34,301 shares of the company’s stock, valued at $1,848,137.88. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey S. Flier sold 3,053 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total value of $164,495.64. Following the sale, the director directly owned 27,856 shares of the company’s stock, valued at approximately $1,500,881.28. This trade represents a 9.88% decrease in their position. 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. Insiders sold a total of 17,149 shares of company stock valued at $923,108 in the last ninety days. Company insiders own 10.30% of the company’s stock.

Scholar Rock Stock Performance

Scholar Rock stock opened at $48.30 on Thursday. The firm has a 50 day simple moving average of $50.09 and a 200-day simple moving average of $47.43. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of -13.45 and a beta of 0.67. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.64 and a quick ratio of 8.64. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $58.49.

Scholar Rock (NASDAQ:SRRK) last released 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 quarter in the previous year, the firm earned ($0.67) EPS. On average, analysts expect that Scholar Rock Holding Corporation will post -3.23 EPS for the current 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).