Pictet Asset Management Holding SA Cuts Stake in Scholar Rock Holding Corporation $SRRK

Pictet Asset Management Holding SA lowered its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 26.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 875,084 shares of the company’s stock after selling 320,883 shares during the period. Pictet Asset Management Holding SA owned 0.76% of Scholar Rock worth $43,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of SRRK. JPMorgan Chase & Co. increased its holdings in Scholar Rock by 161.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 713,988 shares of the company’s stock valued at $26,589,000 after acquiring an additional 440,401 shares during the last quarter. Jennison Associates LLC lifted its stake in Scholar Rock by 74.0% in the 4th quarter. Jennison Associates LLC now owns 2,795,188 shares of the company’s stock worth $123,128,000 after purchasing an additional 1,188,676 shares in the last quarter. HighVista Strategies LLC boosted its holdings in shares of Scholar Rock by 90.8% during the 3rd quarter. HighVista Strategies LLC now owns 59,573 shares of the company’s stock valued at $2,218,000 after purchasing an additional 28,343 shares during the last quarter. iA Global Asset Management Inc. bought a new position in shares of Scholar Rock during the 4th quarter valued at about $5,430,000. Finally, Granahan Investment Management LLC grew its position in shares of Scholar Rock by 77.1% during the third quarter. Granahan Investment Management LLC now owns 129,914 shares of the company’s stock valued at $4,838,000 after purchasing an additional 56,539 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SRRK. BMO Capital Markets lifted their target price on Scholar Rock from $50.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Canaccord Genuity Group started coverage on Scholar Rock in a report on Monday, April 20th. They set a “buy” rating and a $62.00 price target for the company. Wedbush raised their price target on Scholar Rock from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Scholar Rock in a research note on Tuesday, March 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Scholar Rock in a report on Thursday, June 18th. Four investment 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 data from MarketBeat.com, Scholar Rock presently has an average rating of “Buy” and a consensus target price of $56.00.

Scholar Rock Stock Performance

Scholar Rock stock opened at $55.00 on Wednesday. The company’s 50-day moving average price is $48.04 and its 200-day moving average price is $46.42. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.71. The company has a market cap of $6.59 billion, a PE ratio of -15.32 and a beta of 0.69. Scholar Rock Holding Corporation has a twelve month low of $27.07 and a twelve month high of $56.54.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same period in the prior year, the firm posted ($0.67) earnings per share. On average, equities research analysts forecast that Scholar Rock Holding Corporation will post -3.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Hallal sold 30,615 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $1,517,585.55. Following the completion of the sale, the chief executive officer directly owned 1,639,034 shares in the company, valued at $81,246,915.38. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Scholar Rock stock in a transaction 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 transaction, the chief operating officer directly owned 620,055 shares of the company’s stock, valued at $30,736,126.35. The trade was 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. Insiders sold 63,491 shares of company stock valued at $3,147,249 over the last quarter. Company insiders own 13.30% of the company’s stock.

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).