Nan Fung Trinity HK Ltd. Increases Stake in Scholar Rock Holding Corporation $SRRK

Nan Fung Trinity HK Ltd. lifted its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 599.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 263,245 shares of the company’s stock after buying an additional 225,603 shares during the quarter. Nan Fung Trinity HK Ltd.’s holdings in Scholar Rock were worth $11,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of SRRK. Wellington Management Group LLP increased its position in shares of Scholar Rock by 124.5% during the third quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock valued at $169,289,000 after buying an additional 2,521,022 shares during the period. Holocene Advisors LP purchased a new position in shares of Scholar Rock during the third quarter valued at about $91,670,000. Jennison Associates LLC increased its position in shares of Scholar Rock by 74.0% during 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 period. Balyasny Asset Management L.P. purchased a new position in shares of Scholar Rock during the second quarter valued at about $33,062,000. Finally, UBS Group AG increased its position in shares of Scholar Rock by 233.8% during the third quarter. UBS Group AG now owns 1,131,787 shares of the company’s stock valued at $42,148,000 after buying an additional 792,760 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

SRRK has been the topic of several research analyst reports. Canaccord Genuity Group began coverage on shares of Scholar Rock in a research report on Monday, April 20th. They set a “buy” rating and a $62.00 price target on the stock. HC Wainwright upped their price objective on shares of Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial upped their price objective on shares of Scholar Rock from $44.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. BMO Capital Markets upped their price objective on shares of Scholar Rock from $50.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Finally, Piper Sandler upped their price objective on shares of Scholar Rock from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Five investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $56.00.

Insider Transactions at Scholar Rock

In other news, CFO Vikas Sinha sold 10,410 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total value of $516,023.70. Following the transaction, the chief financial officer owned 619,856 shares in the company, valued at approximately $30,726,261.92. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction 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 position. 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. In the last quarter, insiders have sold 102,736 shares of company stock valued at $4,977,900. 13.30% of the stock is currently owned by insiders.

Scholar Rock Price Performance

Shares of SRRK opened at $48.39 on Friday. The stock has a market cap of $5.77 billion, a PE ratio of -13.48 and a beta of 0.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.95 and a current ratio of 6.95. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $51.63. The firm’s 50-day simple moving average is $46.15 and its two-hundred day simple moving average is $43.00.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same period last year, the firm posted ($0.67) EPS. Analysts anticipate that Scholar Rock Holding Corporation will post -3.11 earnings per share for the current fiscal 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).