Man Group plc Takes Position in Scholar Rock Holding Corporation $SRRK

Man Group plc purchased a new position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 104,346 shares of the company’s stock, valued at approximately $5,739,000.

A number of other institutional investors have also modified their holdings of SRRK. BlackRock Inc. purchased a new stake in shares of Scholar Rock in the second quarter worth about $522,175,000. Redmile Group LLC raised its position in Scholar Rock by 73.7% during the first quarter. Redmile Group LLC now owns 9,066,621 shares of the company’s stock valued at $445,715,000 after acquiring an additional 3,845,775 shares in the last quarter. Orbis Allan Gray Ltd raised its position in Scholar Rock by 1,034.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,428,929 shares of the company’s stock valued at $151,044,000 after acquiring an additional 3,126,677 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Scholar Rock by 124.5% in the third quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock valued at $169,289,000 after acquiring an additional 2,521,022 shares during the period. Finally, Jupiter Topco LLC purchased a new stake in Scholar Rock in the 2nd quarter worth approximately $123,279,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Insiders Place Their Bets

In other Scholar Rock news, Director Kristina Burow sold 3,053 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total value of $164,068.22. Following the transaction, the director owned 114,657 shares of the company’s stock, valued at $6,161,667.18. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 company’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,848,137.88. This represents a 13.70% 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 quarter, insiders have sold 17,149 shares of company stock worth $923,108. Corporate insiders own 10.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SRRK. HC Wainwright restated a “buy” rating and set a $65.00 price target on shares of Scholar Rock in a research report on Monday, August 10th. Citigroup increased their target price on shares of Scholar Rock from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wedbush restated an “outperform” rating and set a $64.00 target price on shares of Scholar Rock in a research report on Friday, August 21st. JPMorgan Chase & Co. lifted their price target on Scholar Rock from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Scholar Rock in a report on Thursday, June 18th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $58.77.

Scholar Rock Price Performance

Scholar Rock stock opened at $57.80 on Friday. The company has a fifty day simple moving average of $53.07 and a 200-day simple moving average of $48.90. The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of -16.75 and a beta of 0.69. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 0.77. Scholar Rock Holding Corporation has a 52-week low of $27.07 and a 52-week high of $61.76.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, meeting the consensus estimate of ($0.84). During the same period last year, the firm posted ($0.98) earnings per share. On average, equities analysts anticipate that Scholar Rock Holding Corporation will post -3.23 EPS for the current fiscal year.

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).