Eventide Asset Management LLC Has $104.27 Million Stake in Scholar Rock Holding Corporation $SRRK

Eventide Asset Management LLC cut its position in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,799,456 shares of the company’s stock after selling 113,790 shares during the period. Scholar Rock accounts for about 1.7% of Eventide Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. Eventide Asset Management LLC owned 2.91% of Scholar Rock worth $104,266,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SRRK. Ramirez Asset Management Inc. bought a new position in shares of Scholar Rock in the third quarter valued at approximately $37,000. Penserra Capital Management LLC acquired a new position in shares of Scholar Rock in the 3rd quarter worth approximately $56,000. Bessemer Group Inc. grew its position in Scholar Rock by 970.0% during the 3rd quarter. Bessemer Group Inc. now owns 2,322 shares of the company’s stock worth $86,000 after acquiring an additional 2,105 shares during the last quarter. Strs Ohio acquired a new stake in Scholar Rock during the 1st quarter valued at $77,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Scholar Rock during the 2nd quarter valued at $94,000. 91.08% of the stock is owned by institutional investors.

Insider Transactions at Scholar Rock

In other news, insider Jing L. Marantz sold 4,157 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $46.53, for a total value of $193,425.21. Following the transaction, the insider owned 126,012 shares of the company’s stock, valued at approximately $5,863,338.36. This trade represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Junlin Ho sold 9,580 shares of Scholar Rock stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $46.53, for a total transaction of $445,757.40. Following the sale, the general counsel owned 241,545 shares of the company’s stock, valued at approximately $11,239,088.85. This represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 208,470 shares of company stock valued at $9,201,778 in the last three months. Company insiders own 13.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SRRK. Piper Sandler boosted their price objective on Scholar Rock from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. BMO Capital Markets raised their target price on Scholar Rock from $50.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Wolfe Research initiated coverage on Scholar Rock in a report on Tuesday, November 18th. They issued an “outperform” rating and a $42.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Scholar Rock from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Four equities 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 company’s stock. Based on data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and a consensus target price of $54.14.

Scholar Rock Stock Down 4.3%

NASDAQ:SRRK opened at $40.01 on Friday. The company has a market cap of $4.60 billion, a price-to-earnings ratio of -11.66 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. The stock’s fifty day moving average price is $45.21 and its two-hundred day moving average price is $39.64. Scholar Rock Holding Corporation has a 52-week low of $22.71 and a 52-week high of $49.82.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Tuesday, March 3rd. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.10. During the same period last year, the firm earned ($0.64) earnings per share. On average, analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS 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).