122,223 Shares in Scholar Rock Holding Corporation $SRRK Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 122,223 shares of the company’s stock, valued at approximately $6,722,000. The Manufacturers Life Insurance Company owned 0.10% of Scholar Rock at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Scholar Rock in the 2nd quarter worth about $522,175,000. Geode Capital Management LLC increased its position in shares of Scholar Rock by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 2,034,024 shares of the company’s stock valued at $89,616,000 after buying an additional 79,214 shares during the period. iA Global Asset Management Inc. purchased a new stake in shares of Scholar Rock in the fourth quarter worth about $5,430,000. Norges Bank purchased a new stake in shares of Scholar Rock in the fourth quarter worth about $91,603,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Scholar Rock in the fourth quarter valued at approximately $939,000. 91.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SRRK has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Scholar Rock from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Barclays raised their price target on shares of Scholar Rock from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Friday, July 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Scholar Rock in a research note on Thursday, June 18th. Finally, JPMorgan Chase & Co. boosted their target price on Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $58.77.

Insider Activity

In related news, Director Jeffrey S. Flier sold 3,053 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $164,495.64. Following the transaction, the director directly owned 27,856 shares of the company’s stock, valued at approximately $1,500,881.28. This trade represents a 9.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Gilman sold 2,544 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.87, for a total value of $137,045.28. Following the completion of the sale, the director owned 59,511 shares of the company’s stock, valued at $3,205,857.57. The trade was a 4.10% decrease in their position. 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 three months, insiders sold 17,149 shares of company stock worth $923,108. 10.30% of the stock is currently owned by insiders.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $57.80 on Monday. Scholar Rock Holding Corporation has a 52-week low of $27.07 and a 52-week high of $61.76. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02. The company has a market capitalization of $7.04 billion, a P/E ratio of -16.75 and a beta of 0.69. The company has a fifty day moving average of $53.07 and a 200-day moving average of $48.90.

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