SBI Okasan Asset Management Co.Ltd. Acquires New Stake in Scholar Rock Holding Corporation $SRRK

SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,500 shares of the company’s stock, valued at approximately $474,000.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Scholar Rock by 161.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 713,988 shares of the company’s stock worth $26,589,000 after acquiring an additional 440,401 shares in the last quarter. HighVista Strategies LLC grew its stake in Scholar Rock by 90.8% in the 3rd quarter. HighVista Strategies LLC now owns 59,573 shares of the company’s stock worth $2,218,000 after acquiring an additional 28,343 shares in the last quarter. Jennison Associates LLC grew 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 acquiring an additional 1,188,676 shares in the last quarter. Nan Fung Trinity HK Ltd. bought a new position in Scholar Rock in the 3rd quarter worth about $1,402,000. Finally, Eagle Health Investments LP grew its stake in Scholar Rock by 34.9% in the 3rd quarter. Eagle Health Investments LP now owns 363,300 shares of the company’s stock worth $13,529,000 after acquiring an additional 93,900 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.

Insider Activity

In other Scholar Rock news, COO Keith Woods sold 10,220 shares of the firm’s 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 $506,605.40. Following the completion of the sale, the chief operating officer directly owned 620,055 shares in the company, valued at $30,736,126.35. This trade represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 firm’s 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 of the company’s stock, valued at approximately $81,246,915.38. This trade represents a 1.83% decrease in their ownership of the stock. 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 63,491 shares of company stock valued at $3,147,249 in the last ninety days. 13.30% of the stock is currently owned by insiders.

Scholar Rock Price Performance

Shares of SRRK opened at $49.30 on Friday. The company has a market cap of $5.91 billion, a price-to-earnings ratio of -13.73 and a beta of 0.70. 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. The company has a 50 day moving average of $47.91 and a two-hundred day moving average of $45.15.

Scholar Rock (NASDAQ:SRRK) last announced its 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 quarter in the prior year, the business posted ($0.67) EPS. As a group, analysts predict that Scholar Rock Holding Corporation will post -3.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on SRRK shares. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research note on Tuesday, April 21st. Wedbush upped their target price on shares of Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. HC Wainwright upped their target price on shares of Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Piper Sandler increased their price objective on shares of Scholar Rock from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Finally, Truist Financial increased their price objective on shares of Scholar Rock from $44.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Five analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $56.00.

Scholar Rock Company 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).