Eventide Asset Management LLC Has $104.27 Million Holdings in Scholar Rock Holding Corporation $SRRK

Eventide Asset Management LLC lowered its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,799,456 shares of the company’s stock after selling 113,790 shares during the quarter. Scholar Rock comprises approximately 1.7% of Eventide Asset Management LLC’s holdings, making the stock its 9th largest holding. Eventide Asset Management LLC’s holdings in Scholar Rock were worth $104,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Ramirez Asset Management Inc. acquired a new stake in shares of Scholar Rock during the third quarter worth $37,000. Penserra Capital Management LLC acquired a new position in Scholar Rock in the third quarter valued at about $56,000. Strs Ohio bought a new position in Scholar Rock during the first quarter worth about $77,000. Bessemer Group Inc. boosted its holdings in Scholar Rock by 970.0% during the third quarter. Bessemer Group Inc. now owns 2,322 shares of the company’s stock worth $86,000 after buying an additional 2,105 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Scholar Rock during the 2nd quarter worth about $94,000. 91.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Keith Woods sold 16,746 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $42.70, for a total value of $715,054.20. Following the completion of the transaction, the chief operating officer owned 583,254 shares in the company, valued at $24,904,945.80. This represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Hallal sold 57,450 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 1,541,645 shares of the company’s stock, valued at $65,828,241.50. This represents a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 208,470 shares of company stock valued at $9,201,778. 13.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on SRRK. Truist Financial increased their price target on shares of Scholar Rock from $44.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Citigroup boosted their price objective on shares of Scholar Rock from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Wolfe Research assumed coverage on shares of Scholar Rock in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $42.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a report on Thursday, January 22nd. Finally, Barclays lifted their price target on shares of Scholar Rock from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Four investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $54.14.

Scholar Rock Trading Down 4.3%

NASDAQ:SRRK opened at $40.01 on Friday. Scholar Rock Holding Corporation has a fifty-two week low of $22.71 and a fifty-two week high of $49.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.95 and a quick ratio of 6.95. The stock has a market capitalization of $4.60 billion, a PE ratio of -11.66 and a beta of 0.70. The business’s 50-day simple moving average is $45.21 and its 200-day simple moving average is $39.64.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.10. During the same period in the prior year, the firm earned ($0.64) EPS. Sell-side analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

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).