Candriam S.C.A. Sells 109,433 Shares of Scholar Rock Holding Corporation $SRRK

Candriam S.C.A. lessened its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 32.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,900 shares of the company’s stock after selling 109,433 shares during the period. Candriam S.C.A.’s holdings in Scholar Rock were worth $8,561,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew 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 acquiring an additional 456 shares during the last quarter. California State Teachers Retirement System boosted its stake in Scholar Rock by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 62,372 shares of the company’s stock worth $2,209,000 after purchasing an additional 577 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in Scholar Rock by 6.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 11,146 shares of the company’s stock worth $395,000 after purchasing an additional 710 shares in the last quarter. AlphaQuest LLC grew its position in Scholar Rock by 30.1% during the 3rd quarter. AlphaQuest LLC now owns 3,415 shares of the company’s stock valued at $127,000 after purchasing an additional 791 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in Scholar Rock by 5.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 18,150 shares of the company’s stock valued at $643,000 after purchasing an additional 978 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Trading Down 0.4%

Shares of SRRK stock opened at $47.64 on Wednesday. The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.41. Scholar Rock Holding Corporation has a 12-month low of $22.71 and a 12-month high of $49.82. The stock has a market capitalization of $4.86 billion, a P/E ratio of -15.12 and a beta of 0.67. The firm’s 50 day moving average is $44.91 and its 200 day moving average is $37.84.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Friday, November 14th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). During the same quarter last year, the firm posted ($0.66) EPS. Research analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Activity at Scholar Rock

In other Scholar Rock news, CEO David Hallal sold 57,450 shares of the stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $42.70, for a total value of $2,453,115.00. Following the transaction, the chief executive officer owned 1,541,645 shares of the company’s stock, valued at approximately $65,828,241.50. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Caryn Parlavecchio sold 6,600 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $44.48, for a total value of $293,568.00. Following the sale, the insider owned 148,864 shares of the company’s stock, valued at approximately $6,621,470.72. This represents a 4.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 305,687 shares of company stock valued at $13,540,573 in the last 90 days. 13.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. HC Wainwright upped their target price on shares of Scholar Rock from $44.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. UBS Group began coverage on shares of Scholar Rock in a report on Wednesday, January 7th. They issued a “buy” rating and a $60.00 price objective for the company. Wolfe Research assumed coverage on Scholar Rock in a research note on Tuesday, November 18th. They set an “outperform” rating and a $42.00 target price on the stock. Truist Financial reduced their target price on Scholar Rock from $54.00 to $44.00 and set a “buy” rating for the company in a report on Monday, October 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Scholar Rock in a report on Thursday, December 11th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and an average price target of $51.14.

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).