The Manufacturers Life Insurance Company Takes Position in Scholar Rock Holding Corporation $SRRK

The Manufacturers Life Insurance Company bought a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) in the 2nd quarter, Holdings Channel.com reports. The firm bought 122,223 shares of the company’s stock, valued at approximately $6,722,000.

Several other institutional investors and hedge funds have also bought and sold shares of SRRK. BlackRock Inc. bought a new stake in Scholar Rock in the second quarter valued at approximately $522,175,000. Redmile Group LLC grew its holdings in shares of Scholar Rock by 73.7% in the first quarter. Redmile Group LLC now owns 9,066,621 shares of the company’s stock worth $445,715,000 after purchasing an additional 3,845,775 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in shares of Scholar Rock by 1,034.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 3,428,929 shares of the company’s stock worth $151,044,000 after buying an additional 3,126,677 shares during the period. Wellington Management Group LLP increased its stake in shares of Scholar Rock by 124.5% in the third quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock worth $169,289,000 after buying an additional 2,521,022 shares during the period. Finally, Norges Bank bought a new stake in Scholar Rock during the 4th quarter valued at $91,603,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Price Performance

SRRK stock opened at $57.80 on Monday. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $61.76. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of -16.75 and a beta of 0.69. The business’s 50 day moving average price is $53.07 and its two-hundred day moving average price is $48.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, meeting the consensus estimate of ($0.84). During the same period in the prior year, the business earned ($0.98) EPS. As a group, analysts forecast that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SRRK. Wedbush reissued an “outperform” rating and issued a $64.00 price target on shares of Scholar Rock in a report on Friday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Scholar Rock in a research note on Thursday, June 18th. JPMorgan Chase & Co. raised their target price on Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $65.00 price target on shares of Scholar Rock in a research report on Monday, August 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $58.77.

Insider Activity

In other news, Director Michael Gilman sold 2,544 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.87, for a total transaction of $137,045.28. Following the sale, the director owned 59,511 shares in the company, valued at approximately $3,205,857.57. The trade was a 4.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katie Peng sold 5,446 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $293,430.48. Following the completion of the transaction, the director owned 34,301 shares of the company’s stock, valued at approximately $1,848,137.88. The trade was a 13.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 17,149 shares of company stock worth $923,108. 10.30% of the stock is currently owned by corporate insiders.

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).