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

The Manufacturers Life Insurance Company trimmed its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,765 shares of the company’s stock after selling 13,161 shares during the quarter. The Manufacturers Life Insurance Company owned 0.15% of Scholar Rock worth $8,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock valued at $27,000 after acquiring an additional 450 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Scholar Rock in the fourth quarter worth about $30,000. Summit Securities Group LLC bought a new stake in shares of Scholar Rock during the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 525 shares during the period. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Scholar Rock during the 4th quarter valued at about $44,000. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Up 4.2%

Shares of SRRK stock opened at $47.79 on Wednesday. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of -13.31 and a beta of 0.69. Scholar Rock Holding Corporation has a one year low of $27.07 and a one year high of $58.49. The company’s fifty day moving average price is $49.99 and its 200-day moving average price is $47.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.64 and a quick ratio of 8.64.

Scholar Rock (NASDAQ:SRRK) last issued 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 period in the prior year, the company earned ($0.67) EPS. Sell-side analysts expect that Scholar Rock Holding Corporation will post -3.23 EPS for the current fiscal year.

Insider Transactions at Scholar Rock

In other Scholar Rock news, Director Kristina Burow sold 3,053 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total value of $164,068.22. Following the completion of the transaction, the director directly owned 114,657 shares in the company, valued at $6,161,667.18. This represents a 2.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey S. Flier sold 3,053 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total transaction of $164,495.64. Following the sale, 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 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. Over the last 90 days, insiders have sold 17,149 shares of company stock valued at $923,108. 10.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group began coverage on shares of Scholar Rock in a report on Monday, April 20th. They issued a “buy” rating and a $62.00 price objective on the stock. HC Wainwright increased their price target on shares of Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. Barclays upped their price objective on Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Friday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $56.21.

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).