Granahan Investment Management LLC Raises Stock Position in Scholar Rock Holding Corporation $SRRK

Granahan Investment Management LLC raised its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,769 shares of the company’s stock after purchasing an additional 23,855 shares during the quarter. Granahan Investment Management LLC owned approximately 0.15% of Scholar Rock worth $6,774,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SRRK. IFP Advisors Inc grew its position in shares of Scholar Rock by 294.1% in the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after buying an additional 450 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Scholar Rock in the 4th quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of Scholar Rock in the 3rd quarter worth about $37,000. EverSource Wealth Advisors LLC grew its position in shares of Scholar Rock by 151.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after buying an additional 525 shares during the period. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Scholar Rock in the 4th quarter worth about $44,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SRRK has been the topic of several research analyst reports. Wedbush upped their target price on shares of Scholar Rock from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Canaccord Genuity Group initiated coverage on shares of Scholar Rock in a research note on Monday, April 20th. They set a “buy” rating and a $62.00 target price on the stock. HC Wainwright upped their target price on shares of Scholar Rock from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. upped their target price on shares of Scholar Rock from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research note on Tuesday, April 21st. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $56.00.

Insider Activity

In related news, insider Akshay Vaishnaw sold 12,246 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 value of $607,034.22. Following the completion of the sale, the insider directly owned 630,542 shares of the company’s stock, valued at approximately $31,255,966.94. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Keith Woods sold 10,220 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction 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 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. Over the last 90 days, insiders sold 63,491 shares of company stock valued at $3,147,249. 13.30% of the stock is owned by insiders.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK opened at $45.56 on Wednesday. The firm’s 50 day moving average price is $47.71 and its 200-day moving average price is $45.90. The stock has a market capitalization of $5.46 billion, a PE ratio of -12.69 and a beta of 0.69. Scholar Rock Holding Corporation has a twelve month low of $27.07 and a twelve month high of $52.19. 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 (NASDAQ:SRRK) last released its earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same period in the prior year, the firm earned ($0.67) EPS. Equities research analysts expect that Scholar Rock Holding Corporation will post -3.23 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).