The Manufacturers Life Insurance Company Sells 13,161 Shares of Scholar Rock Holding Corporation $SRRK

The Manufacturers Life Insurance Company trimmed its position in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,765 shares of the company’s stock after selling 13,161 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Scholar Rock were worth $8,542,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in Scholar Rock by 294.1% during the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock valued at $27,000 after buying an additional 450 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Scholar Rock during the 4th quarter worth approximately $30,000. Summit Securities Group LLC bought a new position in shares of Scholar Rock during the 4th quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its position in shares of Scholar Rock by 151.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after acquiring an additional 525 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Scholar Rock in the fourth quarter valued at $44,000. 91.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group began coverage on shares of Scholar Rock in a research report on Monday, April 20th. They issued a “buy” rating and a $62.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. Wedbush reissued an “outperform” rating and issued a $58.00 price objective on shares of Scholar Rock in a research note on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Finally, 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 report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $56.21.

Insiders Place Their Bets

In other news, Director Michael Gilman sold 2,544 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.87, for a total value of $137,045.28. Following the sale, the director owned 59,511 shares of the company’s stock, valued at approximately $3,205,857.57. This represents a 4.10% decrease in their ownership of the stock. The sale 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, Director Katie Peng sold 5,446 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 $293,430.48. Following the completion of the sale, the director owned 34,301 shares of the company’s stock, valued at $1,848,137.88. This trade represents a 13.70% 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 quarter, insiders have sold 17,149 shares of company stock valued at $923,108. 10.30% of the stock is currently owned by company insiders.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $47.79 on Wednesday. The business’s 50 day moving average price is $49.99 and its 200-day moving average price is $47.75. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $58.49. The company has a market cap of $5.73 billion, a P/E ratio of -13.31 and a beta of 0.69. The company has a debt-to-equity ratio of 0.71, a quick ratio of 8.64 and a current ratio of 8.64.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same period in the prior year, the company posted ($0.67) earnings per share. Sell-side analysts predict that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.

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).