Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Purchased by Legal & General Group Plc

Legal & General Group Plc increased its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 20.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,790 shares of the company's stock after buying an additional 10,321 shares during the quarter. Legal & General Group Plc owned about 0.07% of Scholar Rock worth $2,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SRRK. FMR LLC lifted its holdings in shares of Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company's stock valued at $589,316,000 after acquiring an additional 3,439,215 shares in the last quarter. Norges Bank acquired a new position in shares of Scholar Rock during the fourth quarter worth about $86,043,000. Wellington Management Group LLP boosted its position in shares of Scholar Rock by 763.8% in the fourth quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company's stock worth $74,581,000 after buying an additional 1,525,845 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Scholar Rock in the fourth quarter valued at about $33,567,000. Finally, Vanguard Group Inc. raised its holdings in shares of Scholar Rock by 17.6% during the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after buying an additional 708,817 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush restated an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $42.67.

Scholar Rock Stock Performance

Shares of NASDAQ SRRK traded down $1.57 during trading on Friday, reaching $32.81. The stock had a trading volume of 694,304 shares, compared to its average volume of 1,243,667. The firm's 50 day moving average price is $32.77 and its two-hundred day moving average price is $35.66. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. The stock has a market cap of $3.11 billion, a PE ratio of -13.96 and a beta of 0.56. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Tracey Sacco sold 6,500 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $33.08, for a total value of $215,020.00. Following the sale, the insider now directly owns 71,750 shares in the company, valued at approximately $2,373,490. This trade represents a 8.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jay T. Backstrom sold 18,372 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $676,640.76. Following the transaction, the chief executive officer now owns 311,991 shares of the company's stock, valued at $11,490,628.53. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,231 shares of company stock worth $9,056,086 over the last 90 days. Insiders own 13.30% of the company's stock.

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.