First Turn Management LLC Invests $20.25 Million in Scholar Rock Holding Corporation $SRRK

First Turn Management LLC bought a new position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 459,727 shares of the company’s stock, valued at approximately $20,251,000. Scholar Rock accounts for about 2.3% of First Turn Management LLC’s investment portfolio, making the stock its 22nd biggest position.

A number of other institutional investors also recently modified their holdings of the company. Kennedy Capital Management LLC raised its position in shares of Scholar Rock by 1.4% during the fourth quarter. Kennedy Capital Management LLC now owns 62,678 shares of the company’s stock worth $2,761,000 after purchasing an additional 844 shares during the period. Hudson Bay Capital Management LP raised its position in shares of Scholar Rock by 118.5% during the fourth quarter. Hudson Bay Capital Management LP now owns 100,000 shares of the company’s stock worth $4,405,000 after purchasing an additional 640,800 shares during the period. Headlands Technologies LLC acquired a new position in shares of Scholar Rock during the fourth quarter worth approximately $584,000. Siren L.L.C. raised its position in shares of Scholar Rock by 17.0% during the fourth quarter. Siren L.L.C. now owns 10,825,013 shares of the company’s stock worth $476,842,000 after purchasing an additional 1,575,008 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Scholar Rock by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 702,095 shares of the company’s stock worth $30,927,000 after purchasing an additional 25,060 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Scholar Rock

In other news, CEO David Hallal sold 30,615 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $1,517,585.55. Following the completion of the transaction, the chief executive officer owned 1,639,034 shares in the company, valued at approximately $81,246,915.38. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $607,034.22. Following the sale, the insider directly owned 630,542 shares in the company, valued at $31,255,966.94. This trade represents a 1.91% decrease in their position. 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 a total of 63,491 shares of company stock worth $3,147,249 over the last 90 days. 13.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SRRK. Wedbush increased their price target on Scholar Rock from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. HC Wainwright increased their price target on Scholar Rock from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Citigroup increased their price target on Scholar Rock from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. BMO Capital Markets increased their price target on Scholar Rock from $50.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. Finally, Barclays increased their price target on Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $56.00.

Scholar Rock Stock Down 1.1%

SRRK stock opened at $44.18 on Friday. 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 company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -12.31 and a beta of 0.69. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $52.19. The stock has a fifty day moving average of $47.88 and a 200-day moving average of $45.82.

Scholar Rock (NASDAQ:SRRK) last posted 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. As a group, equities research analysts predict 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).