Wellington Management Group LLP Invests $1.35 Million in Scholar Rock Holding Co. (NASDAQ:SRRK)

Wellington Management Group LLP purchased a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,640 shares of the company’s stock, valued at approximately $1,347,000. Wellington Management Group LLP owned approximately 0.10% of Scholar Rock as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in shares of Scholar Rock by 15.5% during the 4th quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock worth $92,000 after acquiring an additional 652 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Scholar Rock by 479.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock valued at $157,000 after buying an additional 6,905 shares in the last quarter. Spire Wealth Management acquired a new position in shares of Scholar Rock during the 4th quarter worth approximately $178,000. Algert Global LLC lifted its position in shares of Scholar Rock by 45.5% during the 3rd quarter. Algert Global LLC now owns 26,920 shares of the company’s stock valued at $191,000 after buying an additional 8,420 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Scholar Rock by 27.5% in the 4th quarter. Arizona State Retirement System now owns 13,796 shares of the company’s stock valued at $259,000 after acquiring an additional 2,976 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a report on Wednesday, April 3rd. Raymond James initiated coverage on Scholar Rock in a report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $28.00 target price on shares of Scholar Rock in a research report on Tuesday, March 26th. BMO Capital Markets boosted their price target on Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, Wedbush reissued an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.00.

Insider Transactions at Scholar Rock

In related news, CFO Edward H. Myles sold 9,458 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $8.98, for a total value of $84,932.84. Following the completion of the transaction, the chief financial officer now directly owns 201,518 shares in the company, valued at $1,809,631.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Junlin Ho sold 4,695 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the sale, the general counsel now directly owns 204,076 shares in the company, valued at approximately $1,832,602.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Edward H. Myles sold 9,458 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $84,932.84. Following the completion of the transaction, the chief financial officer now directly owns 201,518 shares in the company, valued at approximately $1,809,631.64. The disclosure for this sale can be found here. Insiders sold 16,468 shares of company stock worth $147,883 in the last 90 days. Insiders own 26.20% of the company’s stock.

Scholar Rock Stock Down 2.4 %

Shares of NASDAQ:SRRK opened at $8.13 on Tuesday. Scholar Rock Holding Co. has a 52-week low of $5.93 and a 52-week high of $21.17. The company has a quick ratio of 6.58, a current ratio of 6.58 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $11.34 and a two-hundred day moving average of $14.32. The stock has a market cap of $648.40 million, a P/E ratio of -3.89 and a beta of 0.80.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the previous year, the business posted ($0.46) EPS. On average, research analysts expect that Scholar Rock Holding Co. will post -2.4 earnings per share for the current year.

About Scholar Rock

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.