State of New Jersey Common Pension Fund D Purchases New Shares in Scholar Rock Holding Corporation $SRRK

State of New Jersey Common Pension Fund D acquired a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 21,327 shares of the company’s stock, valued at approximately $939,000.

A number of other hedge funds have also recently bought and sold shares of SRRK. Ramirez Asset Management Inc. purchased a new stake in shares of Scholar Rock in the third quarter valued at about $37,000. Penserra Capital Management LLC purchased a new position in Scholar Rock during the third quarter worth about $56,000. Strs Ohio bought a new stake in Scholar Rock in the 1st quarter worth about $77,000. Bessemer Group Inc. increased its stake in Scholar Rock by 970.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,322 shares of the company’s stock valued at $86,000 after buying an additional 2,105 shares during the last quarter. Finally, US Bancorp DE increased its stake in Scholar Rock by 81.6% in the 3rd quarter. US Bancorp DE now owns 2,822 shares of the company’s stock valued at $105,000 after buying an additional 1,268 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Price Performance

NASDAQ SRRK opened at $48.35 on Tuesday. The company has a quick ratio of 6.95, a current ratio of 6.95 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.79 billion, a PE ratio of -13.47 and a beta of 0.70. Scholar Rock Holding Corporation has a 52 week low of $27.07 and a 52 week high of $51.63. The firm’s 50-day simple moving average is $46.25 and its two-hundred day simple moving average is $43.28.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same period in the previous year, the firm posted ($0.67) EPS. Research analysts predict that Scholar Rock Holding Corporation will post -3.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler boosted their target price on Scholar Rock from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Citigroup lifted their price target on Scholar Rock from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Wedbush boosted their price objective on Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. HC Wainwright lifted their target price on Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Truist Financial boosted their price target 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. Five 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 data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $56.00.

Insider Buying and Selling

In other news, COO Keith Woods sold 10,220 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $506,605.40. Following the completion of the transaction, the chief operating officer directly owned 620,055 shares of the company’s stock, valued at $30,736,126.35. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Junlin Ho sold 9,580 shares of Scholar Rock stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $46.53, for a total value of $445,757.40. Following the completion of the transaction, the general counsel owned 241,545 shares of the company’s stock, valued at approximately $11,239,088.85. This trade represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 102,736 shares of company stock worth $4,977,900 in the last 90 days. 13.30% of the stock is currently owned by company insiders.

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).