Legal & General Group Plc Buys Shares of 61,144 Scholar Rock Holding Corporation $SRRK

Legal & General Group Plc bought a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) in the second quarter, Holdings Channel.com reports. The firm bought 61,144 shares of the company’s stock, valued at approximately $3,363,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SRRK. The Manufacturers Life Insurance Company acquired a new position in shares of Scholar Rock during the second quarter worth approximately $6,722,000. Algert Global LLC increased its position in Scholar Rock by 381.0% in the 2nd quarter. Algert Global LLC now owns 58,350 shares of the company’s stock valued at $3,209,000 after acquiring an additional 46,220 shares during the period. Allworth Financial LP bought a new stake in Scholar Rock during the 2nd quarter valued at $35,000. E Fund Management Co. Ltd. bought a new stake in Scholar Rock during the 2nd quarter valued at $509,000. Finally, Eagle Health Investments LP acquired a new position in Scholar Rock during the 2nd quarter worth $30,540,000. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Trading Down 1.1%

Shares of SRRK opened at $55.33 on Friday. The business’s 50-day moving average price is $53.44 and its 200 day moving average price is $49.21. 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 stock has a market capitalization of $6.74 billion, a P/E ratio of -16.04 and a beta of 0.67. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $61.76.

Scholar Rock (NASDAQ:SRRK) last issued 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 quarter in the previous year, the company posted ($0.98) earnings per share. Analysts expect that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current year.

Insider Transactions at Scholar Rock

In other news, Director Michael Gilman sold 2,544 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.87, for a total transaction of $137,045.28. Following the transaction, the director directly owned 59,511 shares in the company, valued at $3,205,857.57. The trade was a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kristina Burow sold 3,053 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total transaction 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 trade represents a 2.59% 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. In the last quarter, insiders have sold 17,149 shares of company stock worth $923,108. 10.30% of the stock is owned by company insiders.

Analyst Ratings Changes

SRRK has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $76.00 target price on shares of Scholar Rock in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Barclays increased their price objective 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 reissued a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. Four research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $58.77.

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).