Loomis Sayles & Co. L P Invests $33.57 Million in Scholar Rock Holding Co. (NASDAQ:SRRK)

Loomis Sayles & Co. L P purchased a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 776,665 shares of the company's stock, valued at approximately $33,567,000. Loomis Sayles & Co. L P owned about 0.83% of Scholar Rock at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock worth $34,000 after purchasing an additional 269 shares during the last quarter. Global Retirement Partners LLC grew its stake in Scholar Rock by 584.7% during the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock worth $39,000 after buying an additional 766 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock worth $48,000 after buying an additional 1,031 shares during the period. Amalgamated Bank lifted its stake in Scholar Rock by 30.6% in the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after buying an additional 620 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of Scholar Rock in the fourth quarter valued at approximately $131,000. Hedge funds and other institutional investors own 91.08% of the company's stock.

Insider Buying and Selling at Scholar Rock

In related news, CEO Jay T. Backstrom sold 22,308 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the completion of the transaction, the chief executive officer now directly owns 330,363 shares of the company's stock, valued at $14,602,044.60. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Edward H. Myles sold 12,539 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $554,223.80. Following the completion of the sale, the chief financial officer now owns 148,549 shares of the company's stock, valued at approximately $6,565,865.80. The trade was a 7.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 299,772 shares of company stock valued at $11,245,798. 19.20% of the stock is owned by company insiders.

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Scholar Rock Stock Performance

Shares of NASDAQ:SRRK traded down $0.40 during trading on Tuesday, reaching $31.75. The company had a trading volume of 465,397 shares, compared to its average volume of 1,170,647. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The stock's fifty day moving average price is $37.52 and its 200 day moving average price is $33.40. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -13.44 and a beta of 0.59.

Analyst Upgrades and Downgrades

Separately, Wedbush reaffirmed an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a report on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Scholar Rock currently has a consensus rating of "Buy" and a consensus price target of $42.67.

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.