Geode Capital Management LLC Has $89.62 Million Stake in Scholar Rock Holding Corporation $SRRK

Geode Capital Management LLC grew its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,034,024 shares of the company’s stock after acquiring an additional 79,214 shares during the quarter. Geode Capital Management LLC owned 1.99% of Scholar Rock worth $89,616,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in Scholar Rock by 151.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after acquiring an additional 525 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in Scholar Rock during the fourth quarter worth about $264,000. IFP Advisors Inc raised its stake in Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after acquiring an additional 450 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Scholar Rock during the fourth quarter worth about $4,546,000. Finally, Handelsbanken Fonder AB raised its stake in Scholar Rock by 11.9% during the fourth quarter. Handelsbanken Fonder AB now owns 23,500 shares of the company’s stock worth $1,035,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Buying and Selling

In related news, CEO David Hallal sold 30,615 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $1,517,585.55. Following the sale, the chief executive officer directly owned 1,639,034 shares in the company, valued at $81,246,915.38. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Akshay Vaishnaw sold 12,246 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total value of $607,034.22. Following the completion of the sale, the insider owned 630,542 shares in the company, valued at $31,255,966.94. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 63,491 shares of company stock valued at $3,147,249. Insiders own 13.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SRRK. Wedbush boosted their target price on Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. JPMorgan Chase & Co. boosted their target price on Scholar Rock from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Barclays boosted their target price on Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. HC Wainwright boosted their price target on Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Canaccord Genuity Group started coverage on Scholar Rock in a report on Monday, April 20th. They set a “buy” rating and a $62.00 price target on the stock. Four 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. Based on data from MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and a consensus price target of $56.00.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $44.30 on Monday. The stock has a market cap of $5.31 billion, a P/E ratio of -12.34 and a beta of 0.69. 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’s 50-day moving average is $48.00 and its 200-day moving average is $45.69. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $52.19.

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

Scholar Rock Company 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).