Wellington Management Group LLP Buys 9,430 Shares of Scholar Rock Holding Corporation $SRRK

Wellington Management Group LLP grew its position in Scholar Rock Holding Corporation (NASDAQ:SRRK) by 0.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,727,085 shares of the company’s stock after purchasing an additional 9,430 shares during the quarter. Wellington Management Group LLP owned about 0.06% of Scholar Rock worth $369,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SRRK. GAMMA Investing LLC raised its holdings in Scholar Rock by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock worth $77,000 after buying an additional 242 shares during the period. Values First Advisors Inc. boosted its holdings in shares of Scholar Rock by 1.5% in the first quarter. Values First Advisors Inc. now owns 18,850 shares of the company’s stock valued at $927,000 after buying an additional 286 shares during the period. IFP Advisors Inc increased its position in shares of Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after acquiring an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Scholar Rock by 151.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after acquiring an additional 525 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Scholar Rock by 0.9% during the second quarter. California State Teachers Retirement System now owns 62,372 shares of the company’s stock worth $2,209,000 after acquiring an additional 577 shares during the period. 91.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SRRK. Wedbush reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of Scholar Rock in a research report on Friday, August 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. BMO Capital Markets reissued an “outperform” rating and issued a $76.00 price target on shares of Scholar Rock in a research note on Friday, August 7th. Citigroup boosted their price target on Scholar Rock from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a report on Thursday, June 18th. Four analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $58.77.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $57.80 on Monday. Scholar Rock Holding Corporation has a 12-month low of $27.07 and a 12-month high of $61.76. The stock has a market cap of $7.04 billion, a P/E 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. The business’s 50 day moving average is $53.07 and its 200-day moving average is $48.90.

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

Insider Activity

In other Scholar Rock news, Director Michael Gilman sold 2,544 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.87, for a total value of $137,045.28. Following the completion of the sale, the director owned 59,511 shares in the company, valued at $3,205,857.57. This trade represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Joshua Reed sold 3,053 shares of Scholar Rock stock in a transaction dated Wednesday, July 1st. The shares were 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 19,518 shares of the company’s stock, valued at approximately $1,048,897.32. This trade represents a 13.53% decrease in their position. 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. In the last three months, insiders sold 17,149 shares of company stock valued at $923,108. 10.30% of the stock is owned by corporate 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).