Polar Capital Holdings Plc Has $58.24 Million Holdings in Scholar Rock Holding Corporation $SRRK

Polar Capital Holdings Plc grew its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 66.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,322,011 shares of the company’s stock after acquiring an additional 527,929 shares during the period. Polar Capital Holdings Plc’s holdings in Scholar Rock were worth $58,235,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, COO Keith Woods sold 10,220 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $506,605.40. Following the completion of the sale, the chief operating officer directly owned 620,055 shares of the company’s stock, valued at $30,736,126.35. This represents a 1.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David Hallal sold 30,615 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $1,517,585.55. Following the completion of the sale, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $3,147,249 over the last 90 days. 13.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SRRK. BMO Capital Markets upped their price target on Scholar Rock from $50.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. HC Wainwright lifted their price objective on Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a report on Tuesday, April 21st. Barclays raised their target price on shares of Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Truist Financial lifted their price target on shares of Scholar Rock from $44.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Four 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, Scholar Rock presently has an average rating of “Buy” and a consensus price target of $56.00.

Scholar Rock Stock Down 0.8%

NASDAQ:SRRK opened at $45.56 on Wednesday. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.71. Scholar Rock Holding Corporation has a 12-month low of $27.07 and a 12-month high of $52.19. The stock’s fifty day simple moving average is $47.71 and its 200-day simple moving average is $45.90. The firm has a market capitalization of $5.46 billion, a P/E ratio of -12.69 and a beta of 0.69.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same quarter last year, the company posted ($0.67) earnings per share. Equities research analysts expect 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).