Scholar Rock Holding Corporation $SRRK Shares Purchased by Redmile Group LLC

Redmile Group LLC raised its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 73.7% in the first quarter, Holdings Channel reports. The firm owned 9,066,621 shares of the company’s stock after acquiring an additional 3,845,775 shares during the quarter. Scholar Rock comprises approximately 29.5% of Redmile Group LLC’s investment portfolio, making the stock its biggest position. Redmile Group LLC owned about 0.08% of Scholar Rock worth $445,715,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of Scholar Rock by 609.3% during the 1st quarter. AQR Capital Management LLC now owns 57,294 shares of the company’s stock worth $1,842,000 after purchasing an additional 49,217 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Scholar Rock by 12.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,046 shares of the company’s stock valued at $1,709,000 after buying an additional 5,831 shares in the last quarter. Millennium Management LLC grew its stake in shares of Scholar Rock by 37.4% in the first quarter. Millennium Management LLC now owns 200,255 shares of the company’s stock valued at $6,438,000 after buying an additional 54,555 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Scholar Rock by 25.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company’s stock worth $5,460,000 after buying an additional 34,594 shares during the last quarter. Finally, Strs Ohio acquired a new position in Scholar Rock during the first quarter worth $77,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Buying and Selling

In other news, Director Joshua Reed sold 3,053 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the completion of the sale, the director owned 19,518 shares in the company, valued at approximately $1,048,897.32. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katie Peng sold 5,446 shares of Scholar Rock stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $293,430.48. Following the sale, the director directly owned 34,301 shares of the company’s stock, valued at $1,848,137.88. The trade was a 13.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 17,149 shares of company stock valued at $923,108. 10.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SRRK. Barclays increased their price target on shares of Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. HC Wainwright boosted their price objective on shares of Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Canaccord Genuity Group assumed coverage on shares of Scholar Rock in a report on Monday, April 20th. They issued a “buy” rating and a $62.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research note on Friday, July 17th. Finally, Wedbush reiterated an “outperform” rating and set a $58.00 price target on shares of Scholar Rock in a report on Tuesday, July 21st. Four 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $56.00.

Scholar Rock Stock Up 0.9%

SRRK opened at $49.37 on Wednesday. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $58.49. The stock’s fifty day simple moving average is $50.09 and its 200 day simple moving average is $47.60. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.71. The stock has a market cap of $5.92 billion, a PE ratio of -13.75 and a beta of 0.67.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same period in the previous year, the company earned ($0.67) EPS. As a group, research analysts expect that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current 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).