Nicholas Investment Partners LP Purchases New Position in Scholar Rock Holding Corporation $SRRK

Nicholas Investment Partners LP acquired a new position in Scholar Rock Holding Corporation (NASDAQ:SRRK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 90,334 shares of the company’s stock, valued at approximately $4,968,000. Nicholas Investment Partners LP owned about 0.07% of Scholar Rock as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SRRK. AQR Capital Management LLC increased its stake in shares of Scholar Rock by 609.3% during the 1st quarter. AQR Capital Management LLC now owns 57,294 shares of the company’s stock worth $1,842,000 after purchasing an additional 49,217 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Scholar Rock by 12.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,046 shares of the company’s stock valued at $1,709,000 after purchasing an additional 5,831 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Scholar Rock by 37.4% in the 1st quarter. Millennium Management LLC now owns 200,255 shares of the company’s stock valued at $6,438,000 after purchasing an additional 54,555 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Scholar Rock by 25.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company’s stock worth $5,460,000 after purchasing an additional 34,594 shares in the last quarter. Finally, Strs Ohio bought a new stake in Scholar Rock in the first quarter worth $77,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Scholar Rock news, Director Katie Peng sold 5,446 shares of Scholar Rock stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total value of $293,430.48. Following the transaction, the director directly owned 34,301 shares of the company’s stock, valued at $1,848,137.88. The trade was a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kristina Burow sold 3,053 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total value of $164,068.22. Following the transaction, the director owned 114,657 shares of the company’s stock, valued at approximately $6,161,667.18. This trade represents a 2.59% 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. Insiders have sold 17,149 shares of company stock worth $923,108 over the last 90 days. Company insiders own 10.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SRRK shares. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. BMO Capital Markets reissued an “outperform” rating and issued a $76.00 price objective on shares of Scholar Rock in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Citigroup upped their target price on Scholar Rock from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $65.00 price target on shares of Scholar Rock in a report on Monday, August 10th. Four analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $58.77.

Scholar Rock Stock Up 3.0%

Scholar Rock stock opened at $58.20 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $58.75. The firm has a fifty day moving average price of $52.10 and a two-hundred day moving average price of $48.56. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of -16.87 and a beta of 0.69.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.84). During the same period last year, the company earned ($0.98) earnings per share. As a group, analysts forecast that Scholar Rock Holding Corporation will post -3.23 earnings per share 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).