JPMorgan Chase & Co. Acquires 440,401 Shares of Scholar Rock Holding Corporation $SRRK

JPMorgan Chase & Co. raised its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 161.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 713,988 shares of the company’s stock after acquiring an additional 440,401 shares during the quarter. JPMorgan Chase & Co.’s holdings in Scholar Rock were worth $26,589,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SRRK. Ramirez Asset Management Inc. acquired a new position in shares of Scholar Rock during the third quarter worth $37,000. Penserra Capital Management LLC acquired a new stake in Scholar Rock in the third quarter valued at $56,000. Strs Ohio bought a new position in Scholar Rock during the 1st quarter worth $77,000. Bessemer Group Inc. raised 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 purchasing an additional 2,105 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Scholar Rock during the 2nd quarter worth about $94,000. Institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SRRK. Piper Sandler upped their price target on Scholar Rock from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. JPMorgan Chase & Co. raised their price objective on Scholar Rock from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. HC Wainwright reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 3rd. Barclays upped their target price on Scholar Rock from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Finally, Citigroup raised their price target on shares of Scholar Rock from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $54.36.

Insiders Place Their Bets

In other Scholar Rock news, insider Mo Qatanani sold 8,484 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $47.07, for a total transaction of $399,341.88. Following the transaction, the insider directly owned 98,445 shares in the company, valued at approximately $4,633,806.15. This represents a 7.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Junlin Ho sold 9,580 shares of the firm’s 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 directly owned 241,545 shares of the company’s stock, valued at approximately $11,239,088.85. This trade represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 207,464 shares of company stock worth $9,157,423. Company insiders own 13.30% of the company’s stock.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $43.66 on Tuesday. The company has a current ratio of 6.95, a quick ratio of 6.95 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $45.18 and a two-hundred day moving average price of $40.07. Scholar Rock Holding Corporation has a 1-year low of $22.71 and a 1-year high of $49.82. The company has a market cap of $5.02 billion, a P/E ratio of -12.73 and a beta of 0.70.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.10. During the same period in the prior year, the business earned ($0.64) earnings per share. As a group, analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

About Scholar Rock

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).