Legal & General Group Plc Invests $3.36 Million in Scholar Rock Holding Corporation $SRRK

Legal & General Group Plc purchased a new position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 61,144 shares of the company’s stock, valued at approximately $3,363,000. Legal & General Group Plc owned 0.05% of Scholar Rock as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new position in Scholar Rock during the 2nd quarter worth approximately $6,722,000. Algert Global LLC boosted its stake in shares of Scholar Rock by 381.0% in the second quarter. Algert Global LLC now owns 58,350 shares of the company’s stock valued at $3,209,000 after buying an additional 46,220 shares in the last quarter. Allworth Financial LP acquired a new position in Scholar Rock during the second quarter worth $35,000. E Fund Management Co. Ltd. purchased a new position in Scholar Rock in the second quarter worth $509,000. Finally, Eagle Health Investments LP acquired a new stake in Scholar Rock in the second quarter valued at $30,540,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Trading Down 1.1%

NASDAQ:SRRK opened at $55.33 on Friday. The company has a market capitalization of $6.74 billion, a PE ratio of -16.04 and a beta of 0.67. 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. The stock has a fifty day simple moving average of $53.44 and a 200-day simple moving average of $49.21.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data 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 period last year, the company earned ($0.98) EPS. On average, equities research analysts expect that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets restated an “outperform” rating and set a $76.00 target price on shares of Scholar Rock in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research note on Friday, July 17th. Barclays boosted their price objective on shares of Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. HC Wainwright restated a “buy” rating and set a $65.00 target price on shares of Scholar Rock in a research report on Monday, August 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $64.00 target price on shares of Scholar Rock in a report on Friday, August 21st. Four equities 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 company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $58.77.

Insider Buying and Selling

In related news, Director Michael Gilman sold 2,544 shares of the stock in a transaction 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 completion of the sale, the director directly owned 59,511 shares in the company, valued at approximately $3,205,857.57. This represents a 4.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 firm’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 sale, the director owned 19,518 shares in the company, valued at approximately $1,048,897.32. The trade was a 13.53% 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. Insiders have sold 17,149 shares of company stock worth $923,108 over the last 90 days. Company insiders own 10.30% of the company’s stock.

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).