Raymond James Financial Inc. Buys New Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

Raymond James Financial Inc. purchased a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,743 shares of the company’s stock, valued at approximately $2,625,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock valued at $1,600,000 after purchasing an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after buying an additional 42,139 shares during the period. Barclays PLC grew its stake in shares of Scholar Rock by 103.4% in the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after acquiring an additional 84,118 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Scholar Rock by 7.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock worth $759,000 after acquiring an additional 6,269 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after acquiring an additional 120,489 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Price Performance

Shares of SRRK opened at $32.84 on Friday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $37.74 and its 200-day simple moving average is $33.06. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -13.97 and a beta of 0.59. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98.

Analysts Set New Price Targets

Separately, Wedbush reissued an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research note on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $42.67.

Insider Activity at Scholar Rock

In related news, insider Tracey Sacco sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $33.08, for a total transaction of $215,020.00. Following the transaction, the insider now owns 71,750 shares in the company, valued at $2,373,490. This trade represents a 8.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jing L. Marantz sold 5,655 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $249,951.00. Following the completion of the sale, the insider now owns 67,200 shares of the company’s stock, valued at approximately $2,970,240. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 299,772 shares of company stock valued at $11,245,798 over the last quarter. 19.20% of the stock is owned by insiders.

Scholar Rock Company Profile

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.