Scholar Rock Holding Corporation $SRRK Stake Lessened by TD Asset Management Inc

TD Asset Management Inc lessened its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 281,444 shares of the company’s stock after selling 30,954 shares during the period. TD Asset Management Inc owned about 0.28% of Scholar Rock worth $12,398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Three Seasons Wealth LLC increased its stake in shares of Scholar Rock by 2.1% in the fourth quarter. Three Seasons Wealth LLC now owns 10,968 shares of the company’s stock worth $483,000 after buying an additional 222 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after buying an additional 450 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Scholar Rock by 7.9% in the third quarter. Principal Financial Group Inc. now owns 6,214 shares of the company’s stock worth $231,000 after buying an additional 456 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after buying an additional 525 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Scholar Rock by 0.9% in the second quarter. California State Teachers Retirement System now owns 62,372 shares of the company’s stock worth $2,209,000 after buying an additional 577 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SRRK shares. Citigroup lifted their price objective on shares of Scholar Rock from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. HC Wainwright lifted 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, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on shares of Scholar Rock from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Finally, Piper Sandler lifted 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. Four research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and an average target price of $56.00.

Insider Activity

In other news, COO Keith Woods sold 10,220 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $506,605.40. Following the completion of the transaction, the chief operating officer owned 620,055 shares of the company’s stock, valued at approximately $30,736,126.35. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $1,517,585.55. Following the transaction, the chief executive officer directly owned 1,639,034 shares of the company’s stock, valued at approximately $81,246,915.38. This trade represents a 1.83% 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. In the last three months, insiders sold 63,491 shares of company stock worth $3,147,249. 13.30% of the stock is owned by insiders.

Scholar Rock Stock Performance

Shares of SRRK opened at $43.80 on Tuesday. Scholar Rock Holding Corporation has a 1 year low of $27.07 and a 1 year high of $52.19. The company has a market cap of $5.25 billion, a price-to-earnings ratio of -12.20 and a beta of 0.69. The company has a debt-to-equity ratio of 0.71, a quick ratio of 8.64 and a current ratio of 8.64. The firm has a fifty day moving average of $47.99 and a 200-day moving average of $45.72.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same quarter in the prior year, the business earned ($0.67) EPS. As a group, equities analysts anticipate that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.

About Scholar Rock

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).