Peregrine Capital Management LLC Makes New $5.77 Million Investment in Scholar Rock Holding Corporation $SRRK

Peregrine Capital Management LLC bought a new stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 154,901 shares of the company’s stock, valued at approximately $5,769,000. Peregrine Capital Management LLC owned about 0.16% of Scholar Rock as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in Scholar Rock by 15.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,668 shares of the company’s stock worth $130,000 after acquiring an additional 500 shares during the period. California State Teachers Retirement System raised its stake in Scholar Rock by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 62,372 shares of the company’s stock valued at $2,209,000 after buying an additional 577 shares during the last quarter. E Fund Management Co. Ltd. lifted its holdings in Scholar Rock by 6.8% in the second quarter. E Fund Management Co. Ltd. now owns 11,146 shares of the company’s stock valued at $395,000 after acquiring an additional 710 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Scholar Rock by 5.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 18,150 shares of the company’s stock worth $643,000 after buying an additional 978 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Scholar Rock by 5.3% during the 2nd quarter. Creative Planning now owns 20,767 shares of the company’s stock worth $736,000 after acquiring an additional 1,045 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SRRK shares. UBS Group assumed coverage on shares of Scholar Rock in a research report on Wednesday. They issued a “buy” rating and a $60.00 price target for the company. Bank of America assumed coverage on Scholar Rock in a research note on Thursday, October 9th. They issued a “buy” rating and a $53.00 price objective on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a report on Friday, November 14th. Truist Financial dropped their price objective on shares of Scholar Rock from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Finally, Piper Sandler dropped their target price on Scholar Rock from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and an average target price of $50.14.

Scholar Rock Stock Up 1.2%

Scholar Rock stock opened at $42.18 on Friday. The company has a quick ratio of 6.30, a current ratio of 6.30 and a debt-to-equity ratio of 0.41. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -13.39 and a beta of 0.63. The business’s 50-day moving average price is $40.70 and its 200 day moving average price is $36.60. Scholar Rock Holding Corporation has a 52 week low of $22.71 and a 52 week high of $48.28.

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

Insider Activity

In other Scholar Rock news, insider Mo Qatanani sold 136,462 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $45.21, for a total transaction of $6,169,447.02. Following the transaction, the insider owned 108,964 shares of the company’s stock, valued at approximately $4,926,262.44. The trade was a 55.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Katie Peng sold 1,006 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $44.09, for a total transaction of $44,354.54. Following the transaction, the director directly owned 32,908 shares in the company, valued at approximately $1,450,913.72. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 13.30% of the company’s stock.

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).