E Fund Management Co. Ltd. Purchases New Position in Scholar Rock Holding Corporation $SRRK

E Fund Management Co. Ltd. purchased a new position in Scholar Rock Holding Corporation (NASDAQ:SRRK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,256 shares of the company’s stock, valued at approximately $509,000.

Other large investors have also bought and sold shares of the company. IFP Advisors Inc grew its holdings in shares of Scholar Rock by 294.1% during the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after acquiring an additional 450 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Scholar Rock in the fourth quarter worth $30,000. Summit Securities Group LLC purchased a new position in Scholar Rock during the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC boosted its holdings 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 buying an additional 525 shares in the last quarter. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Scholar Rock during the 4th quarter valued at $44,000. 91.08% of the stock is owned by institutional investors.

Scholar Rock Stock Performance

SRRK opened at $55.25 on Friday. Scholar Rock Holding Corporation has a 12-month low of $27.07 and a 12-month high of $58.49. The company’s 50 day moving average is $51.61 and its 200 day moving average is $48.42. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 0.77. The company has a market cap of $6.73 billion, a price-to-earnings ratio of -16.01 and a beta of 0.69.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.84). During the same quarter in the previous year, the business earned ($0.98) earnings per share. On average, equities research analysts predict that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

SRRK has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on shares of Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Wedbush restated an “outperform” rating and issued a $58.00 price objective on shares of Scholar Rock in a report on Monday, August 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Scholar Rock in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Finally, Barclays boosted their price target on Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Scholar Rock presently has an average rating of “Buy” and a consensus price target of $58.31.

Insider Buying and Selling

In related news, 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 transaction, the director directly owned 59,511 shares of the company’s stock, valued at approximately $3,205,857.57. The trade was a 4.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joshua Reed 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 owned 19,518 shares of the company’s stock, valued at $1,048,897.32. The trade was a 13.53% 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. Insiders sold 17,149 shares of company stock worth $923,108 in the last quarter. 10.30% of the stock is owned by insiders.

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).