Geode Capital Management LLC Buys 79,214 Shares of Scholar Rock Holding Corporation $SRRK

Geode Capital Management LLC boosted its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,034,024 shares of the company’s stock after acquiring an additional 79,214 shares during the period. Geode Capital Management LLC’s holdings in Scholar Rock were worth $89,616,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after acquiring an additional 525 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in Scholar Rock in the fourth quarter valued at approximately $264,000. IFP Advisors Inc lifted its stake in Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock valued at $27,000 after buying an additional 450 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Scholar Rock in the fourth quarter valued at approximately $4,546,000. Finally, Handelsbanken Fonder AB lifted its stake in Scholar Rock by 11.9% in the fourth quarter. Handelsbanken Fonder AB now owns 23,500 shares of the company’s stock valued at $1,035,000 after buying an additional 2,500 shares during the period. 91.08% of the stock is currently owned by institutional investors.

Insider Transactions at Scholar Rock

In related news, CFO Vikas Sinha sold 10,410 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $516,023.70. Following the transaction, the chief financial officer directly owned 619,856 shares in the company, valued at $30,726,261.92. This trade represents a 1.65% decrease in their position. The sale 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, CEO David Hallal sold 30,615 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $1,517,585.55. Following the completion of the transaction, the chief executive officer owned 1,639,034 shares in the company, valued at approximately $81,246,915.38. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 63,491 shares of company stock valued at $3,147,249 in the last 90 days. 13.30% of the stock is currently owned by company insiders.

Scholar Rock Price Performance

Shares of SRRK opened at $44.30 on Monday. Scholar Rock Holding Corporation has a 12-month low of $27.07 and a 12-month high of $52.19. The business’s fifty day moving average is $48.00 and its 200 day moving average is $45.69. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.71. The stock has a market cap of $5.31 billion, a P/E ratio of -12.34 and a beta of 0.69.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same period in the prior year, the company posted ($0.67) earnings per share. Sell-side analysts anticipate that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays boosted their price target on Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Citigroup boosted their price target on Scholar Rock from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Canaccord Genuity Group assumed coverage on Scholar Rock in a research note on Monday, April 20th. They issued a “buy” rating and a $62.00 price target on the stock. HC Wainwright boosted 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. Finally, Wedbush boosted their price target on Scholar Rock from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Four research 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 stock. According to MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and an average target price of $56.00.

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).