StoneCrest Wealth Management Inc. Makes New $1.76 Million Investment in Scholar Rock Holding Corporation $SRRK

StoneCrest Wealth Management Inc. acquired a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 47,332 shares of the company’s stock, valued at approximately $1,763,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in Scholar Rock in the 2nd quarter valued at about $41,628,000. Balyasny Asset Management L.P. purchased a new stake in shares of Scholar Rock in the second quarter worth approximately $33,062,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. raised its stake in shares of Scholar Rock by 145.3% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 769,442 shares of the company’s stock worth $27,254,000 after purchasing an additional 455,753 shares during the last quarter. Bellevue Group AG lifted its holdings in shares of Scholar Rock by 17.6% in the second quarter. Bellevue Group AG now owns 2,947,295 shares of the company’s stock valued at $104,393,000 after purchasing an additional 440,405 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Scholar Rock during the second quarter valued at approximately $12,962,000. 91.08% of the stock is owned by institutional investors.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK opened at $41.67 on Friday. The company has a market capitalization of $4.25 billion, a P/E ratio of -13.23 and a beta of 0.63. The company’s 50-day moving average is $40.45 and its 200 day moving average is $36.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.30 and a current ratio of 6.30. Scholar Rock Holding Corporation has a fifty-two week low of $22.71 and a fifty-two week high of $48.28.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same period last year, the company earned ($0.66) EPS. On average, equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SRRK shares. Citigroup initiated coverage on Scholar Rock in a research report on Friday. They issued a “buy” rating for the company. HC Wainwright lowered their target price on shares of Scholar Rock from $50.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, September 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a report on Wednesday, October 8th. Leerink Partners initiated coverage on shares of Scholar Rock in a research report on Monday, September 15th. They issued an “outperform” rating and a $51.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Scholar Rock in a research report on Thursday, December 11th. Five analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and a consensus target price of $49.77.

Insider Buying and Selling

In related news, insider Mo Qatanani sold 136,462 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $45.21, for a total value of $6,169,447.02. Following the transaction, the insider owned 108,964 shares in the company, valued at approximately $4,926,262.44. This represents a 55.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $44.09, for a total value of $44,354.54. Following the transaction, the director directly owned 32,908 shares of the company’s stock, valued at approximately $1,450,913.72. This trade represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 13.30% of the company’s stock.

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).